Decant a trust when circumstances change.
Hellmuth & Johnson attorney, Mark Balzarini discusses the complexities of modifying irrevocable trusts and the power to “decant” under Minnesota statute Section 502.851.
This process enables trustees to transfer assets to a new trust with updated terms, but it’s important for them to seek legal counsel due to key restrictions.
“The power to “decant” is a powerful tool for a trustee. A trustee should take caution and seek legal counsel before making changes to a trust in this way.”
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