Council Meeting

Date: Tuesday, May 14, 2019
Time: 5:00pm - 7:30pm
Location: Golf Club at Indigo Run
Speaker: Aaron Nelson. Topic: Decanting

Topic:  Decanting.  CLE credit will be given.

J. Aaron Nelson, J.D., of The Nelson Law Firm in Bluffton,SC, a tax law and estate planning attorney, as he discusses how trust decanting is a method by which the trust terms governing certain assets can be changed by distributing those assets to another trust which has different (more desirable) terms.  Unlike trust modifications, there is no need for court approval; however, trust decanting comes with its own set of restrictions on what terms can be modified and requires the creation of a separate trust.  Like trust modification, decanting involves the intersection of South Carolina trust law and the federal estate and gift tax laws.  The presentation will focus on the substantive South Carolina trust decanting law and touch briefly on the federal tax pitfalls to avoid. 

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