Continued Flexing toward Flexibility: Is Settlor Intent Irrelevant?
With the ever-increasing acceptance of the use of non-judicial settlement agreements, the enactment of decanting statues in many states, and court relaxing of standards for reformation, the irrevocable trust does not mean what it used to. Given the many ways to alter trust terms, what is the role of settlor intent under modern law? Discussion highlights include:
- Review of non-judicial settlement agreement and decanting laws under state law
- How the state laws reconcile their provisions with the concept that settlor intent is paramount.
- Potential dangers in ignoring settlor intent
- What concerned clients can do
Portland Trust Company is pleased to offer Continuing Education opportunities featuring tenured professionals from the American Bankers Association Trust Schools.
Thomas W. Abendroth, Partner Schiff Hardin LLP
Charles “Skip” D. Fox IV, Partner, McGuireWoods LLP
“Continued Flexing toward Flexibility: Is Settlor Intent Irrelevant” is approved for:
- 2.0 CTFA Credits
- 1.50 CPEs for CPAs (Business Law) Credits
- 1.5 CLE Maine Credits
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