Partner Melissa Price spoke at a American Law Institute Continuing Legal Education (ALI CLE) webinar "Irrevocable But Not Irredeemable: How To Fix or Modify a Trust," hosted on Wednesday, July 25, 2018.
Your client undoubtedly had excellent reasons for creating an irrevocable trust. They may have created an irrevocable trust to protect their assets from the hands of creditors, to provide funding for their children without giving them direct access to those funds, or for transfer tax planning purposes. However, 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 requirements.
This one-hour seminar will provided attendees with the necessary tools to determine when an irrevocable trust can and should be modified, and also about various methods to modify the trust.