Irrevocable Trust Modifications in North Carolina, Florida, Tennessee, and New York
Many people think irrevocable trusts cannot be changed. Despite having a name that suggests modification is not possible, this is not the reality. Trusts may be amended through court proceedings or with the use of trust protectors. If all parties to the trust consent, it is even possible to modify or terminate a trust without court action.
Besides modification under state law, decanting is often used when trust terms are undesirable. This process allows for trust assets to be distributed into a new trust with more favorable terms. Decanting laws differ from state to state, so consulting with an experienced attorney is a must.
Our trust attorneys offer trust modification services to trustees and beneficiaries. We are licensed in North Carolina, Florida, Tennessee, and New York. Let TrustCounsel help you today.