Decanting: How to Fix a Trust That Is Not Getting Better with Age

While many wines get better with age, the same cannot be said for some irrevocable trusts. Maybe you are the beneficiary of a trust created by your great-grandfather over 70 years ago, and that trust no longer makes sense. Or maybe you created an irrevocable trust over 20 years ago, and it no longer makes sense for your current situation. Wine connoisseurs may wonder if there is any way to fix an irrevocable trust that has turned from a fine wine into vinegar. You may be surprised to learn that under certain circumstances, the answer is yes-by decanting the old, broken trust into a brand new one.