Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, March 13, 2015

Taking the Meaning Out of "Irrevocable"

Trust3Over the previous twenty years an irrevocable trusts has developed in a way that has weakened the meaning of the "irrevocable" part. Here are some developments in trust law that led to irrevocable trusts being not exactly irrevocable:

  • The enactment of the Uniform Trust Code in twenty-nine states and D.C., which includes multiple provisions allowing court modification or termination of irrevocable trusts.
  • Enactment of decanting statutes in twenty-two states.
  • The enactment of the Trust and Estate Dispute Resolution Act in two states.

See Charles A. Redd, Flexibility vs. Certainty--Has the Pendulum Swung Too Far?, Wealth Management, Feb. 23, 2015.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2015/03/taking-the-meaning-out-of-irrevocable.html

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