Show Me the Money!Show Me the Money!

To what extent does a trustee have to consider the settlor’s intent when beneficiaries request a modification to a trust? In many respects, trustees and beneficiaries have welcomed the various new paths toward allowing modification as they allow for changes to be made to irrevocable trusts to adjust for changed circumstances. But, what if those changed circumstances include the beneficiaries’ desire to alter distribution provisions or control trust investments? In such cases, does a trustee have an overarching duty to preserve the settlor’s intent? 

A Harder Look 

Recent cases have suggested that courts may be taking a harder look at settlor intent and aren’t just rubber stamping modifications that need court approval. For example, in Horg...