Travis Neal looks at the Spousal Lifetime Access Trust and how business owners can minimize the estate tax implications when their business is worth more than the gift and estate tax exclusion.
California recently enacted its decanting statute. The new law allows an authorized fiduciary to modify the terms of an irrevocable trust without the beneficiaries’ consent or court approval. Nevertheless, the settlor’s intent must be preserved, and no beneficiary can object. Here’s how the law compares to the Uniform Trust Decanting Act (UTDA) and other state decanting statutes.
