Despite the best of intentions, it is impossible for a trust settlor, and the practitioners advising them, to predict the future. So what options are available when an irrevocable trust no longer achieves its intended objectives?

In the November/December issue of Nebraska CPA, Beau Morgan and Austin Hoffman explore four tools that can help modify trusts to adapt to evolving family dynamics, financial situations, and tax laws: court modifications, nonjudicial settlement agreements, limited powers of appointment, and decanting.

Read the full article at the link below to gain insights into how these tools can help ensure trusts remain effective in achieving their intended purposes as needs shift over time.

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