Description
Your client undoubtedly had excellent reasons for creating an irrevocable trust in the first place. He may have created an irrevocable trust to protect his own assets from the hands of creditors. He may have created an irrevocable trust to provide funding for his children without giving them direct access to those funds. He may have created an irrevocable trust for transfer tax planning purposes. But as time passes, the terms of that trust may no longer suit the needs of your client or the trust beneficiaries. Fortunately, their irrevocable trust can likely be modified and brought up-to-date to suit their current needs. This one-hour audio teleseminar will give you the tools to determine when an irrevocable trust can and should be modified and teach you about various methods to modify the trust.
Topics to be covered include:
• Determining when a trustee should modify an irrevocable trust;
• Understanding the techniques to modify the trust; and
• Drafting irrevocable trusts in light of a possible modification in the future