Trusts That Cry for Attention

Over the past several years, a number of state law changes have caused the issue of trust modification/reformation1 to garner more and more attention from the Internal Revenue Service. First, many states and Washington, D.C. have adopted the Uniform Trust Code (UTC).2 The UTC contains a potpourri of provisions, making it significantly easier for parties to gain court approval of trust modifications.

Over the past several years, a number of state law changes have caused the issue of trust modification/reformation1 to garner more and more attention from the Internal Revenue Service.

First, many states and Washington, D.C. have adopted the Uniform Trust Code (UTC).2 The UTC contains a potpourri of provisions, making it significantly easier for parties to gain court approval of trust modifications. These provisions allow for a modification:

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