Tag Archives: Decanting

Income Tax Reporting for Decanting

Decanting refers to the distribution of trust property of one trust (the “first trust”) to another trust (the “second trust”). Over the past several years, the number of states specifically authorizing decanting by statute has grown rapidly. As of March 2014, at least twenty-two states have passed or proposed a state decanting statute. Notwithstanding this … Continue Reading

The Proliferation of Trust Decanting Statutes Continues

By Chad Makuch on June 17, 2013 Posted in Estate Planning, Tax, Trust Administration

Irrevocable trusts are now subject to varying degrees of amendment by court approved modifications, trust protector actions, private settlement agreements, and, of course, decanting. Effective July 1, 2013, Wyoming will become the nineteenth state (and the ninth state since 2010) to permit trust decanting by statute. Decanting refers to the distribution of trust property of … Continue Reading