April 1, 2018Articles

Delaware's Modification by Consent Statute

Trusts & Estates, Vol. 157, No. 7

The modification statute provides a powerful and useful tool for trustors, fiduciaries and beneficiaries of Delaware trusts that can’t be found in most jurisdictions.

This article reviews the mechanics of Delaware’s modification statute (12 Del. C. Section 3342), compares it to Uniform Trust Code Section 411, and reviews potential tax consequences to consider when modifying irrevocable trusts.