“Irrevocable” does not truly mean “unchangeable.” Today, trustees and beneficiaries of an irrevocable trust no longer need to blindly accept the trust's terms but instead should consider whether the trust needs remodeling and, if so, whether a decanting statute may be the best means to do so.1 Trust beneficiaries often do not realize they have this option, and assume instead that the terms of a trust of which they are beneficiaries may not be changed and must be borne. Indeed, many advisors ...

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