Learn how trust grantors can modify or terminate irrevocable trusts through decanting or beneficiary agreements.
Frequently grantors created irrevocable trusts many years ago under a certain set of assumptions, circumstances and tax law environment. In the interim, assumptions are different, beneficiary circumstances vary, tax laws change and occasionally a grantor can have a change of heart. In such cases, is there anything a trust grantor can do to address the fact that irrevocable trusts are not subject to change? This course will address two methods by which an irrevocable trust can be modified or even terminated, namely trust decanting and trust termination by agreement of all the parties. We will discuss various types of decanting statutory common law and pursuant to the terms of the trust. We will also enumerate the various circumstances under which decanting can take place. Secondly, the course will address termination of the trust by the grantor with the consent of all beneficiaries and examine the tax consequences and benefits of such a decision through an actual case study.
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Agenda
Decanting of Trusts Definition
Why Does a Trustee Decant a Trust?
- Grantor's Decision-Second Thoughts
- Beneficiaries' Situation Changes
- The Applicable Tax Law Changes
- Grantor Has a Disagreement With Beneficiary
Source of the Right of a Trustee to Decant
- The State Statute
- The Common Law
- The Language of the Trust Instrument
- A Court Order
Types of Decanting
Termination of a Trust
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OnDemand Course
This course was last revised on March 31, 2025.
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- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
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- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- IN CLE 1.1
- This program has been approved by the Indiana Commission on Continuing Legal Education. Participating attorneys are eligible to receive up to 1.1 hours of Distance Education credit.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.0
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- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- TN CLE 1.07
- This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.07 hours of credit.
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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- AK CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NM CLE 1.0
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Charles Bryan Baron, Esq.
McLaughlin & Stern, LLP
- Partner, McLaughlin & Stern LLP, New York, NY
- Trusts, estates, and taxation practice
- Named expert in the law of New York Private Trusts, 2004
- Author of ‘Self Dealing Trustees and the Exoneration Clause: Can Trustees Ever Profit from Transactions with Trust Property,’ 72 St. John’s Law Review 43 (1998) and ‘The International Legal Status of Jerusalem,’ 8 Touro International Law Review 1 (1998)
- Translator-interpreter at the John Demjanjuk war crimes trial in Israel
- Member of the New York Bar, Israel Bar, United States District Court for the Southern District of New York, United States District Court for the Eastern District of New York, United States Tax Court, and the United States Supreme Court
- B.A. Degree in international relations, magna cum laude, University of Pennsylvania; LL.B. Degree, Bar Ilan University Faculty of Law; LL.M. Degree, summa cum laude, Touro University Law Center
- Can be contacted at [email protected]
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