Ethics of Unraveling Irrevocable Trusts (from Annual Trusts and Estates 2023)

A pre-recorded streaming VIDEO replay of one session from the October 2023 webcast seminar, 42nd Annual Trusts and Estates.

Cosponsored with the Trusts and Estates Section of the Virginia State Bar

Unforeseen changes in circumstances and tax laws (and sometimes a desire to have money sooner rather than later) can motivate one or more parties involved with irrevocable trusts, including grantors, trustees, and beneficiaries, to seek legal advice on unravelling an irrevocable trust. This presentation examines the principal ethics rules that attorneys advising grantors, trustees, and/or beneficiaries on unravelling an irrevocable trust (including whether to unravel and unravelling if warranted) under the Virginia Uniform Trust Code need to consider before and during the representation.