Trust Drafting With the End in MindTrust Drafting With the End in Mind

Drafting a trust can be like building an airplane.¹ Each has many components that must be designed to reach the desired result. Some trusts are small crafts; others must be built for long hauls. Most reach their destinations safely. Sadly, however, some don’t. Both trusts and airplanes therefore need to be constructed with certain safety features to withstand turbulence.

Modifying a trust may be needed to lower administrative costs, delay outright distributions or reduce friction, whether among beneficiaries or with the trustee. Terminating a trust may be a fiduciary’s best option if the costs of administering it outweigh the benefits of its continued existence. As such, modifications and terminations of trusts have proliferated over the ...