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Thursday, May 30, 2019, 1:00-2:00pm

Not every irrevocable trust ends up serving its intended purpose or is financially viable.

Many unforeseen events can and do occur – tax laws change, family circumstance change – sometimes dramatically, or there can be d a deep downturn in a family business. In these and many other circumstances trusts are broken and need to be “fixed” – fiduciary powers adjusted, distributions policies modified, trusts divided or merged, or even terminated. The process of accomplishing these fixes are necessarily limited and come with risks, including tax liability and potentially liability to future beneficiaries.

This program provides a practical guide to techniques for fixing broken irrevocable trusts.

  • Trust reformation by agreement of all stakeholder or by court order
  • Principal and income adjustment powers under the UPIA
  • Techniques for converting a trust from one type to another
  • Use of “decanting” to terminate trusts and distribute assets when the trust is not viable
  • Framework of tax considerations when trusts are restructured or terminated

Click on the "In Depth" tab for tuition and speaker information.

Product Information
Date Presented:
May 30, 2019 1:00 PM Eastern
1 hour
Registration Fee:
How to Fix a Broken Trust: Decanting, Reformation and Other Tools | Live Replay from February 5, 2019 | Phone/Audio Streaming

All Attendees: $80

Early discount and CLE Premier Pass rates are not available for this program. 

Speaker Information
Benjamin S Candland   [ view bio ]
Stephen W Murphy   [ view bio ]
Individual topic purchase: Selected
NC State Bar
Mandatory Continuing Legal Education (MCLE) and Certified Paralegal Education (CPE) (Total): 1.00
CLE Premier Pass