Trust Decanting Seminar Materials

Information

A new Virginia statute permits trust decanting. Decanting is the act of a trustee exercising its power to distribute trust income or principal to or for the benefit of a beneficiary by distributing the assets to a new trust.

Every trusts and estates lawyer needs to know how and when to use this powerful planning tool to deal with administrative changes to irrevocable trusts, changes to beneficial interests, and changes to optimize tax issues, as well as to correct scriveners’ errors or address ambiguities in trust instruments.

This comprehensive, stand-alone publication is direct from a May 2013 seminar cosponsored with the Trusts and Estates Section of the Virginia State Bar. It is available as asearchable PDF via download. Click here for more information on electronic books.

CONTENT SUMMARY

  1. Introduction and Overview
  2. Common Law and the Uniform Trust Code
  3. Reasons to Decant
  4. Tax Consequences of Decanting
  5. State Decanting Statutes
  6. Conclusion

Copyright © 2013 Virginia Law Foundation. All rights reserved.

Table of Contents

TABLE OF CONTENTS

I. INTRODUCTION AND OVERVIEW

II. COMMON LAW AND THE UNIFORM TRUST CODE

III. REASONS TO DECANT

IV. TAX CONSEQUENCES OF DECANTING

V. STATE DECANTING STATUTES

VI. CONCLUSION

Authors

Farhad Aghdami

Christine Nguyen Piersall

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