In appropriate circumstances, the Van Winkle Law Firm works with clients to skillfully modify or terminate irrevocable trusts. Beneficiaries and trustees of an irrevocable trust often find that as the result of changed circumstances, drafting errors or for economic reasons, the existing terms and conditions of a trust are not achieving the goals intended when the trust was created. Applying relatively recent developments in state laws governing trusts in North Carolina and many other states, our group works with both beneficiaries and trustees of trusts to analyze and assess whether modification or termination of an irrevocable trust is appropriate. Our group brings a team approach to ensure that the beneficiaries truly benefit from the trust while honoring the intent of those who created the trust.
TRUST MODIFICATIONS & TERMINATIONS – TYPES OF SERVICES
- Modification of Irrevocable Trusts
- Termination of Irrevocable Trusts
PRACTICE HIGHLIGHTS
- Modification of a trust to provide for a special needs trust for remainder beneficiary
- Modification of a trust to allow greater flexibility for appointment of successor trustees.
- Modification of a trust to correct a drafting error.
- Termination of a trust where fees and expenses were eroding the value of distributions to beneficiaries.