Article on Reforming or Decanting Irrevocable Trusts

Mary Akkerman recently published an Article entitled, Decanting: A Practical Roadmap for Modernizing Trusts in South Dakota, 61 S.D. L. Rev. 4013 (2016). Provided below is an abstract of the Article:

As trust laws continue to evolve and modernize, trustees and beneficiaries sometimes face a challenging dilemma. Situations arise where, over time, the terms of an irrevocable trust no longer fit a family’s needs. Families are often advised that they have few options, but some jurisdictions, including South Dakota, allow reformation or decanting to improve problematic or outdated trusts. This article provides an overview of what is involved in reforming or decanting an irrevocable trust.