Modifying Irrevocable Trusts
Personal Planning Institute (PPI)
April 28, 2020
Kim Kamin, Chief Wealth Strategist at Gresham Partners, LLC, presented “Rehabbing Irrevocable Trusts” at the Personal Planning Institute, which was held on April 28, 2020 via national webinar.
Trusts capture a client’s wishes at a particular point in time and often imperfectly. Clients cannot possibly contemplate every future trust provision that may be desirable as property laws change, taxation changes, assets available as resources change, and as their families grow and change. Considering the rapid pace of change, best practices are evolving toward recommending maximum flexibility in new trusts. But when clients have an irrevocable trust in place, they frequently ask their advisors for information about how an existing irrevocable trust might be updated or modified. This webinar addresses the six most common approaches to modifying irrevocable trusts utilizing the simile that a trust is like a home and the forms of modification are all methods of rehabbing a home.
If you would like additional information, please contact Kim Kamin at firstname.lastname@example.org, or 312-960-0200.