Learn how to fix revocable and irrevocable trusts for clients. Trusts can “go bad” for many reasons. Some are problematic from the outset, such as trusts prepared by a trust-mill with no attention paid to the particular needs of the trust’s beneficiaries. Others may become defective over time, their stated purpose no longer matching the beneficiaries' changing needs. Trust assets may have dwindled to the point that costs of maintaining the trust exceed its benefits. The trustee could be unsuitable, whether due to the trustee's failure to respond to the legitimate needs of the beneficiaries, investing the assets inappropriately, or becoming unable to handle the duties of trust administration. Explore how the Uniform Trust Act can help fix trusts that are "broken."
Summary of Contents
Fixing Broken Trusts with the Uniform Trust Act Tool Kit