Estate plans evolve. Or at least they should. Any plan that doesn’t match your current financial and family circumstances may be out of date and in need of an overhaul. We can help you revitalize the obsolete aspects of your plan and get you back on track for the future.
You may also be the beneficiary, executor, or trustee of a deceased loved one’s will or trust. These older trusts left by a parent or grandparent can often benefit from a “remodel” or modernization.
You are not trapped by old plans, even when they’re “irrevocable.” Modernization is a more involved process for an irrevocable trust, but we have an array of tools at our disposal to “remodel” or modernize an existing irrevocable trust.
You may have heard of decanting. It is an increasingly popular option and borrows its name from the decanting process used for wine. Just as you can decant wine by pouring it from its original bottle into a new bottle, leaving the unwanted sediment in the original bottle, you can pour the assets from one trust into a new trust, leaving the unwanted terms in the original trust.
Just as there are many ways to remodel a home, there are many strategies and legal tools that can be used to modernize old estate plans. We want you to have the best possible plan for your family. Since you and your circumstances are unique, contact us today and let’s explore the options.