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What’s Happened to Settlor Intent?

State laws become more liberal in permitting trust modifications after the fact.

The advent of the current version of the generation-skipping transfer tax is at least partially responsible for the increased popularity of long duration irrevocable trusts.1 Many states have modified their statutes to accommodate this trend either by eliminating the rule against perpetuities or by substantially increasing the period during which a party may hold property in trust.2 An increased desire to achieve asset protection3 through the use of trusts may


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