How do i prevent decanting of my trust ?

[jstcrazd]

There are both pros and cons to allowing for the decanting of a trust. That is why you will want to sit down with an experienced attorney in your area that you trust to go over all the ways you can protect yourself and your beneficiaries in the documents that are drafted.

There are several ways other than trusts, for example, to bequeath assets to beneficiaries without the “manipulation” that you fear might come with a trust. These other ways should be explored and considered.

Forums like this are good for dispensing general information, by the way, but you will want all of the specifics of your particular situation personally reviewed by an attorney in your area. FreeAdvice is unable to provide personal reviews.

Thank you guys for all the info I appreciate it

 

[quincy]

Thank you guys for all the info I appreciate it

We all appreciate the thanks, jstcrazd, so thank you.

I think you are smart, by the way, to make sure that what you want for your beneficiaries is expressly and without question reflected in any final documents that are drafted. The exact wording, as you have noted, can be vital so that nothing is left vague or ambiguous and open to interpretations that go against your wishes. Good luck.

 

[zddoodah]

For instance if I stated that upon the death of the trustor this trust agreement shall be unamendable in its entirety?

This has nothing to do with "decanting"?

Decanting means the distribution of trust property to another trust pursuant to the trustee’s discretionary authority to make distributions to, or for the benefit of, one or more beneficiaries. Decanting isn't legally permissible unless the trust expressly provides for it.

Your comment about the trust being amendable after the death of the trustor is moot. For starters, a trustee (who is not also the trustor) rarely has the power to amend a trust. Additionally, the standard revocable living trust that is used in estate planning automatically becomes irrevocable upon the death of the trustor.

I have read the ars title 14 -10819

So...you're aware that the power to "decant" only applies in a situation in which the trust instrument does not expressly say otherwise and in which the trustee "has the discretion under the terms of a testamentary instrument or irrevocable inter vivos agreement to make distributions." If you're creating a trust that gives the trustee the authority to make discretionary distributions, you would be a fool not to have an attorney draft the trust for you.

 

[quincy]

… Decanting means the distribution of trust property to another trust pursuant to the trustee’s discretionary authority … you would be a fool not to have an attorney draft the trust for you.

I agree that it would be foolish to not have an experienced attorney involved in the drafting of the trust, especially when there are concerns about how and to whom assets will be handled and distributed.

 

[jstcrazd]

This has nothing to do with "decanting"?

Decanting means the distribution of trust property to another trust pursuant to the trustee’s discretionary authority to make distributions to, or for the benefit of, one or more beneficiaries. Decanting isn't legally permissible unless the trust expressly provides for it.

Your comment about the trust being amendable after the death of the trustor is moot. For starters, a trustee (who is not also the trustor) rarely has the power to amend a trust. Additionally, the standard revocable living trust that is used in estate planning automatically becomes irrevocable upon the death of the trustor.




So...you're aware that the power to "decant" only applies in a situation in which the trust instrument does not expressly say otherwise and in which the trustee "has the discretion under the terms of a testamentary instrument or irrevocable inter vivos agreement to make distributions." If you're creating a trust that gives the trustee the authority to make discretionary distributions, you would be a fool not to have an attorney draft the trust for you.

I would never attempt to navigate the complexities involved in creating my trust without an attorney. however I want to be as well informed as possible while doing so and have good reason for obtaining information from multiple sources. I have asked multiple attorneys the same questions I'm asking here which has really only left me with the very same question how do I prevent the act of decanting my irrevocable trust if my trust includes discretionary distributions ? It seems to be a simple question with no simple answer .that being said again I thank everyone who donates their time to respond if one thing I have learned by my time invested in researching trusts and wills it is that out of all the things a person has to give someone its time that is the most valuable