Modernizing Trust Administration: Three Documents Every Family Should Refresh

Irrevocable trusts drafted in the 1990s and early 2000s often look like time capsules, formula clauses keyed to obsolete exemption amounts, trustee succession provisions naming long-dead bank trust departments, situs in states that no longer make sense. Modern trust administration tools, particularly state decanting statutes and trust modernization vehicles, allow us to fix many of these problems without going to court.