Steve Oshins and the Peak Trust Company recently did an excellent webinar on decanting trusts (slides). A client may have an irrevocable trust that worked great before, but now needs to be changed, and usually irrevocable trusts are set in stone and can’t be changed. Enter decanting. Decanting by statute (Missouri) or common law (Kansas) allows an irrevocable trust to be changed to meet the beneficiary’s evolving needs and help the trustee to more productively manage the assets in the beneficiary’s best interests.
My law firm, Johnson Law KC LLC, is experienced counseling clients from all stages and walks of life on every aspect of trusts and estate planning, including decanting. We can help you answer your legal questions with confidence and friendly expertise. If we can serve you or your family with your trust or estate planning questions, please call (913.707.9220) or email us (firstname.lastname@example.org) to schedule a free, convenient consultation.
(c) 2016, Stephen M. Johnson, Esq.