Trust Modifications

The Kansas Uniform Trust Code allows for the nonjudicial modification of an irrevocable non-charitable trust during the grantor’s lifetime by consent of the grantor and qualified beneficiaries or in a court proceeding if the grantor is deceased and the proposed modification is not inconsistent with a material purpose of the trust.  Modifying an irrevocable trust to give the grantor or a beneficiary a general power of appointment may permit a step-up in income tax basis that was not previously possible. It may also be beneficial to modify a trust in order to postpone or expedite distributions of the trust estate. The lawyers at Woner, Reeder & Girard, P.A. can assist you with planning for and achieving a trust modification.