Over the past several years, a number of state law changes have caused the issue of trust modification/reformation1 to garner more and more attention from the Internal Revenue Service. First, many states and Washington, D.C. have adopted the Uniform Trust Code (UTC).2 The UTC contains a potpourri of provisions, making it significantly easier for parties to gain court approval of trust modifications. These provisions allow for a modification: due to circumstances not anticipated by ...

All Access Premium Subscription

Your subscription will include 12 months of Trusts & Estates magazine, access to premium content on WealthManagement.com, and Trusts & Estates plus iPad app.

Already registered? here.