“Thought for the Day” #925 – by Stephen R. Elville, J.D., LL.M.

March 14, 2017

Like pouring wine from one bottle into another, trusts can be decanted – an old trust can be changed into a different or new trust. Although Maryland does not yet have a decanting statute, many other states do, and it may be possible to move a trust to a decanting jurisdiction for this purpose. Decanting may be the ultimate flexibility measure in estate planning and should be provided for only after thorough counseling and consideration.