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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.

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