Irrevocable Trust Modification Florida
Individuals often create irrevocable trusts to accomplish their estate and tax planning goals. Those involved in establishing the trust use the best information available to them at the time that the trust is created.
However, as circumstances change, the trust may no longer meet the creator’s goals and objectives. Fortunately, there are a number of ways to modify a trust under Florida law. The lawyers in our Estate Planning & Tax Group represent individuals and institutions in modifying trusts with significant assets that no longer function as intended. Our services include determining whether a trust modification is permitted, carrying out the modification, and addressing the federal estate, gift, generation-skipping transfer tax and income tax issues in connection with the modification.