Albert Carroll, Matthew Lintner, and Kathleen Murphy, of Morris James LLP, have made available for download their article, Chancery Applies Unclean Hands Doctrine to Prevent a Trustee from Rescinding the Decanting of a Trust, published in JDSUPRA. The abstract is as follows:
Delaware’s decanting statute allows a trustee to “decant” a trust by “pouring” the corpus out into a new modified trust. But, to do so, a trustee must have been able to invade the trust principal under the original trust’s terms, and the second trust’s terms must be substantially the same in its treatment of beneficiaries.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.