Special Topics

Change is Inevitable: Taking a Mulligan on that Outdated Irrevocable Trust

Keith Davis, JD, CPA & Ed Brown, JD, CPA
Davis Schilken PC


Session Description

This course will cover changes in circumstance that would make a modification of an Irrevocable Trust desirable including tax law changes, income tax saving options, changes in beneficiaries’ needs and asset protection. It will discuss the methods that can be used to modify an irrevocable trust including reformation, modification and decanting with attention to the new (2016) Colorado decanting statute (15-16-901). Finally, it will analyze the pros and cons of each method, as well as tax considerations to be made prior to decanting. The objectives of the course are to provide attendees with a working knowledge of the options available to modify a trust. This may allow changes that can ease the administration, reduce taxes and maximize benefit and protection.

Field of Study:
Spec Knowledge/Trusts

Experience Level:
Intermediate