Call Today 843-548-0157
The Nelson Law Firm
South Carolina Tax Law Attorney

October 2017 Archives

What is Trust Decanting?

Decanting is a new statute in South Carolina that was effective January 1, 2014.  The concept of decanting is codified at S.C. Code Section 62-7-816A.  Technically speaking, decanting is the ability of a trustee to make a distribution from one trust to another trust - rather than to a beneficiary of the first trust.  While this sounds quite mundane, it is quite a powerful concept because the second trust need not have identical terms as the first trust.  This allows the trustee to modify a trust that is otherwise irrevocable.  Decanting gets its name from the concept of pouring wine into a decanter (a new vessel) in order to improve the wine.  The trustee of the original trust is pouring the assets of the original trust into a new vessel, the second trust in order to improve the trust.

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy