This presentation will review a number of the most flexible and advantageous methods that may be utilized in appropriate situations to effectively modify the terms of an irrevocable trust. The techniques to be considered will include “built-in” language included in the original trust document, how to modify existing trust language in otherwise unamendable trusts and changing the trust asset holding structure to account for previously unanticipated issues. The potential planning devices to be discussed will include moving the trust or its investments to another jurisdiction, swapping trust assets for “outside” assets, and how a trustee may use all or part of the trust principal to create or fund another trust.
Key topics to be discussed:
Powers of Appointment
“Back Door” Powers
Judicial and Non-Judicial Modification
Date: February 28, 2023
Leslie A. Share | Packman, Neuwahl & Rosenberg, P.A.
Leslie A. Share is a shareholder in Packman, Neuwahl & Rosenberg, P.A., and a member of the firm’s international tax team, specializing in the areas of tax, estate and wealth preservation planning. Mr. Share has advised clients for over forty years in numerous and diverse areas such as Broadway theatrical productions, real estate like – kind exchanges, and cryptocurrency issues. He frequently speaks on subjects ranging from Florida and offshore trust law, advanced wealth preservation techniques, U.S. tax treaties, representing a foreign investor in an Internal Revenue Service examination, the role of the Internet in U.S. tax planning, and preferred structures for U.S. persons investing overseas and engaging in foreign business activities. He is a member of the Society f Trust and Estate Practitioners (STEP).
I. Powers of Appointment | 11:00am – 11:15am
II. Decanting | 11:15am – 11:30am
III. “Back Door” Powers | 11:30am – 11:45am
IV. Judicial and Non-Judicial Modification | 11:45am – 12:00pm