Carrying Out Settlor’s Intent in Irrevocable Trusts

Charles D. Fox IV (Attorney at Law, McGuireWoods LLP) has recently published his article entitled How “Revocable” Is “Irrevocable”? Obtaining Flexibility in Irrevocable Trusts, 33 Ohio N.U. L. Rev. 943 (2007).

Here is an introduction to his article:

This paper examines two fundamental challenges facing estate planners today. The first is how to build flexibility into an irrevocable trust to address developments that were unforeseen when the trust was drafted. The second is how to avoid making distributions that appear to be mandated by the terms of the trust instrument but which would be harmful to a beneficiary or run counter to the intent of the settlor when he or she created the trust. While each of these two issues is different, each addresses a common theme of carrying out a settlor’s intent despite provisions in a trust document which, on their face, would prevent this.