Issues Involved In Modifying Trusts
Trust modifications are not common because they often involve complex state, federal and gift tax questions. The attorneys obtaining these modifications must possess a thorough knowledge of state and federal laws and exhibit the tenacity to follow through on this demanding course of action. Modifications of irrevocable trusts can be accomplished with/without the court’s involvement depending on the trust and the facts surrounding the desired modification. At our firm, we obtain both nonjudicial and judicial modifications, depending on the client and relevant matters involved in the case.
When a judicial proceeding becomes necessary to accomplish the modification, our legal team at VanNess & VanNess, P.A., has proven trial experience in probate and trust litigation, which plays a pivotal role in our trust modification practice.
When Can An Irrevocable Trust Be Modified?
The modification of an irrevocable trust usually involves substantial assets and property. The successful modification of a trust can represent the difference between hundreds, thousands and even millions of dollars to the qualified beneficiaries of the trust. Our firm has modified numerous irrevocable trusts involving corporate and individual trustees when the terms of an otherwise irrevocable trust were inconsistent with the purposes of the trust and to serve the best interests of the qualified beneficiaries of the trust. Under Florida law, modifying or reforming an otherwise irrevocable trust is authorized under certain circumstances.
Our Team Is Here To Help
Our team of experienced lawyers is committed to providing every client with personal attention and successful results. At VanNess & VanNess, P.A., we build our reputation on providing exceptional legal services to our valued clients, right from the first contact with our office. We also modify trusts created in other states — right from our convenient central Florida office in Citrus County.
To speak with one of our experienced attorneys at VanNess & VanNess, P.A., regarding trust modification or any related matter, contact us by calling toll free at 866-697-6221 or by completing our confidential online contact form.