Decanting More Than Just Wine: Revocability in Irrevocable Texas Trusts
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Addresses the history and defines the meaning of decanting a trust as well as Texas's new decanting statute. Background information is presented as to what an irrevocable trust is, how to create one, and what flexibility, if any, the trustee or beneficiaries have in administering an irrevocable trust. Next, an overview of modification and termination of a trust will demonstrate how a settlor, trustee, or beneficiary can officially modify a trust. Then, discusses decanting in other states, as well as in common law. Finally, discusses the practicality and applicability of the Texas decanting statute.