Trusts, Estates & Probate

4.53

Making Changes to Irrevocable Trusts: Top Ways to Right the Ship

Credits Available
Credit Status Total
Alaska CLE Approved 1.5 Total
Arizona CLE Approved 1.5 Total
California CLE Approved 1.5 Total
Colorado CLE Approved 2 Total
Connecticut CLE Approved 1.5 Total
Delaware CLE Approved 1.5 Total
Florida CLE Approved 2 Total
Hawaii CLE Approved 1.5 Total
Iowa CLE Upon Request 1.5 Total
Idaho CLE Approved 1.5 Total
Illinois CLE Approved 1.5 Total
Louisiana CLE Upon Request 1.5 Total
Maine CLE Approved 1.5 Total
Minnesota CLE Approved 1.5 Total
Missouri CLE Approved 1.8 Total
Northern Mariana Islands CLE Approved 1.5 Total
Montana CLE Approved 1.5 Total
North Dakota CLE Approved 1.5 Total
Nebraska CLE Approved 1.5 Total
New Hampshire CLE Approved 1.5 Total
New Mexico CLE Approved 1.5 Total
Nevada CLE Approved 1.5 Total
New York CLE Approved 1.5 Total
Oklahoma CLE Approved 2 Total
Oregon CLE Approved 1.5 Total
Pennsylvania CLE Approved 1.5 Total
Vermont CLE Approved 1.5 Total
Washington CLE Approved 1.5 Total
Wisconsin CLE Approved 1.5 Total
West Virginia CLE Approved 1.8 Total
OnDemand
1 hours 30 minutes
David McGuffey
With David L. McGuffey from Elder Law Practice of David L. McGuffey, LLC
Recorded June 19, 2024
Product ID 98765

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Overview

A Quick Guide to Pivoting Flawed or Outdated Plans

Irrevocable trusts often hold sway over beneficiaries many decades after they're drafted. To ensure the grantor's intent is honored, an adjustment is often needed. This solutions-focused course will equip you with the tools to reshape irrevocable trusts and keep them in step with changing laws and life's evolving needs. Register today!

  • Explore every lever you can pull to adapt trusts to changing circumstances.
  • Master the potent power of appointment to reshape beneficiary designations and trust terms.
  • Negotiate win-win scenarios with modification by beneficiary consent.
  • Identify common barriers to modification.
  • Determine when reformation is the right path forward.

Abbreviated Agenda

  1. Trust Document Review
    1. Leveraging Trustee Discretionary Powers to Modify
    2. Trust Protector Authority to Amend Specific Provisions
  2. Modifying by Beneficiary Consent
    1. Barriers to Unanimous Consent and Common Disputes
    2. Beneficiary Limited Power of Appointment
    3. Unexpected Beneficiary Impact Risks
  3. Judicial Modification and Reformation: Cy Pres, Mistake, or Impossibility
  4. Tax Ramifications of Modifying the Trust
  5. Decanting Conditions, Legality, and Complexity
  6. Public Records and Privacy Concerns
  7. Preventing Loss of Grantor's Intent

Related Topics

Product ID 98765

Credit Details

Credits Available
Credit Status Total
Alaska CLE Approved 1.5 Total
Arizona CLE Approved 1.5 Total
California CLE Approved 1.5 Total
Colorado CLE Approved 2 Total
Connecticut CLE Approved 1.5 Total
Delaware CLE Approved 1.5 Total
Florida CLE Approved 2 Total
Hawaii CLE Approved 1.5 Total
Iowa CLE Upon Request 1.5 Total
Idaho CLE Approved 1.5 Total
Illinois CLE Approved 1.5 Total
Louisiana CLE Upon Request 1.5 Total
Maine CLE Approved 1.5 Total
Minnesota CLE Approved 1.5 Total
Missouri CLE Approved 1.8 Total
Northern Mariana Islands CLE Approved 1.5 Total
Montana CLE Approved 1.5 Total
North Dakota CLE Approved 1.5 Total
Nebraska CLE Approved 1.5 Total
New Hampshire CLE Approved 1.5 Total
New Mexico CLE Approved 1.5 Total
Nevada CLE Approved 1.5 Total
New York CLE Approved 1.5 Total
Oklahoma CLE Approved 2 Total
Oregon CLE Approved 1.5 Total
Pennsylvania CLE Approved 1.5 Total
Vermont CLE Approved 1.5 Total
Washington CLE Approved 1.5 Total
Wisconsin CLE Approved 1.5 Total
West Virginia CLE Approved 1.8 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. Making Changes to Irrevocable Trusts: Top Ways to Right the Ship

    1. Trust Document Review
      1. Leveraging Trustee Discretionary Powers to Modify
      2. Trust Protector Authority to Amend Specific Provisions
    2. Modifying by Beneficiary Consent
      1. Barriers to Unanimous Consent and Common Disputes
      2. Beneficiary Limited Power of Appointment
      3. Unexpected Beneficiary Impact Risks
    3. Judicial Modification and Reformation: Cy Pres, Mistake, or Impossibility
    4. Tax Ramifications of Modifying the Trust
    5. Decanting Conditions, Legality, and Complexity
    6. Public Records and Privacy Concerns
    7. Preventing Loss of Grantor's Intent

Who Should Attend

This program is designed for attorneys. Accountants, trust officers, tax professionals, and paralegals may also benefit.

Speakers

David L McGuffey
David L.
McGuffey
Elder Law Practice of David L. McGuffey, LLC
Speaker bio
David L McGuffey

David L. McGuffey

Elder Law Practice of David L. McGuffey, LLC
David McGuffey

is in private practice with the Elder Law Practice of David L. McGuffey, LLC located in Dalton, Georgia. He limits his practice to elder law and special needs law. Much of Mr. McGuffey's practice is devoted to helping individuals with chronic health conditions; and to find, get, and pay for good long-term care. He is certified as an elder law attorney by the National Elder Law Foundation. In 2021, Mr. McGuffey launched the educational website EzElderLaw.com. As of now, EzElderLaw has more than 1,000 pages of information available to its readers with more coming almost every day. He earned his B.A. and J.D. degrees from Georgia State University. Mr. McGuffey is a member of the National Academy of Elder Law Attorneys and various local bar associations. He is a past chair of the State Bar of Georgia's Elder Law Section and the Tennessee Bar Association's Elder Law Section.

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