Tangible Personal Property Memo

Divisible Pot Trust

A single irrevocable trust for all beneficiaries where distributions can be made to any beneficiary at the trustee’s discretion as opposed to separate trusts for each beneficiary.

Decanting Provision

A method by which a trustee may remove or modify trust provisions from an irrevocable trust by pouring/distributing the trust assets from an old trust into a new trust.