DECANTING TRUSTS: IRREVOCABLE, NOT …

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35 DECANTING TRUSTS: irrevocable , NOT UNCHANGEABLE by Melissa J. Willms* I. INTRODUCTION ........................................ ........................................ .. 36 II. WHAT IS DECANTING ? ........................................ .............................. 37 III. REASONS TO DECANT ........................................ ................................ 40 IV. DECANTING VS. trust MODIFICATION ........................................ .... 40 A. Fiduciary Duties of Trustees ........................................ ............... 40 1. Duty of Loyalty ........................................ ............................. 41 2. Fiduciary Duty to Be Generally Prudent .............................. 41 3. Duty to Control and Protect trust Property ......................... 41 4. Duty to Inform and Report.

36 estate planning and community property law journal [vol. 6:35 a. “decanting” ..... 54

  Trust, Estate, Decanting, Irrevocable, Decanting trusts