This seminar will cover:

Part 1: Key Provisions of Maryland’s New Trust Decanting Act. Participants will learn when the statute allows a trustee to modify a trust through decanting and what terms may or may not be changed.

Part 2: Tax Considerations. This hour will focus on the income, gift, and generation-skipping transfer tax consequences that a trustee should consider before decanting.

Part 3: Decanting in Practice. Participants will learn the practical aspects of decanting such as whether to retitle assets, what documents to prepare, and whether to get a new EIN. Examples of common fact patterns will be considered.

3.0 hours of CLE credit will be offered by the surrounding MCLE states.