Making Changes to Irrevocable Trusts

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Imagine your client, the trustee, faces a multi-million-dollar family business held in trust, but the decades-old trust instrument prohibits its sale - forcing a choice between fid uciary duty and financial disaster. This 3-hour Continuing Legal Education (CLE) course provides an incisive analysis of the legal mechanisms, statutory standards, and current case law governing the modification, termination, and nonjudicial adjustment of irrevocable trusts. We will explore the tension between the traditional cornerstone of trust law - the settlor's intent - and the modern framework, particularly the Uniform Trust Code (UTC), which allows for greater flexibility. The course focuses specifically on the critical threshold inquiry: whether a proposed action violates a material purpose of the trust. Attendees will gain practical knowledge to advise settlors, trustees, and beneficiaries on navigating disputes over trust administration, including decisions regarding distributions, asset management, and changes to trustee provisions. Irrevocable doesn't have to mean unchangeable - register today! Determine the feasibility of modification under the UTC and common law. Interpret trust documents and extrinsic evidence to define a trust's "material purpose." Ensure nonjudicial agreements stay within the bounds of judicial approval standards. Ground your drafting in current judicial review practices. Show more