Q: Can a trustee use funds from an irrevocable trust to create a new irrevocable trust for a different beneficiary?
I am the sole beneficiary of a 15 year old irrevocable trust and I believe the assets were recently moved into other brand new irrevocable trusts with new beneficiaries. (The grantor is the trustee) If the trustee has no other funds to reinstate my trust assets are the newly created irrevocable trusts protected from my claim ?Washington state.
A:
Your magic Google phrase is "decanting irrevocable trusts." Your question dips into an area of law that, to me, is a bit controversial.
Despite the name "irrevocable" in the trust, there are circumstances where changes can be made. Generally, those changes required approval of not only the grantor, but the beneficiaries as well.
Switching beneficiaries doesn't sound right. You should get with a local trusts attorney and discuss your situation.
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