Modifying Irrevocable Trusts Using Nonjudicial Settlement Agreements
Structuring NJSA Wrappers, Relocating Trust Situs, Resolving Disputes, Remedying Trust Construction Issues
A live 90-minute CLE video webinar with interactive Q&A
This CLE course will provide estate planners with a comprehensive and practical guide to structuring nonjudicial settlement agreements (NJSAs) as a tool for modifying irrevocable trusts in states that have adopted the Uniform Trust Code or have NJSA statutes. The panel will discuss what modifications these settlement agreements can and cannot implement and offer useful guidance to properly structure NJSA "wrapper" provisions that will withstand IRS scrutiny.
Outline
- Amending an irrevocable trust
- Uniform Trust Code provisions
- Determination of "interested person"
- Prohibition against modifying "material provision" of trust
- Terms that binding NJSAs may modify
- Other NJSA statutory provisions and variances from UTC model
- Using an NJSA to relocate a trust situs
- Obtaining court approval of NJSAs
- Structuring NJSA "wrapper" provisions
- Determining whether an NJSA is permissible
Benefits
The panel will review these and other high priority issues:
- Which trust provisions may NJSAs amend in states that have adopted the Uniform Trust Code?
- What other states have statutes or trust code provisions allowing for NJSAs, and how do they differ from the UTC provisions?
- How to structure an NJSA "wrapper"
- What are the tax consequences of making trust changes through an NJSA?
- What are the considerations for determining when it is desirable or necessary to have a court ratify the terms of an NJSA?
- What other methods should counsel be aware of to modify irrevocable trusts?
Faculty

Louis A. Silverman
Attorney
Silverman Law Offices
Mr. Silverman has been practicing law for over 30 years. He is admitted to practice in the state courts of Arizona and... | Read More
Mr. Silverman has been practicing law for over 30 years. He is admitted to practice in the state courts of Arizona and Texas, the U.S. District Courts, Arizona, and Western District of Texas.
Closeto be announced.
Early Discount (through 10/13/23)
Cannot Attend November 9?
Early Discount (through 10/13/23)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.