Family Settlement Agreements to Modify Trust Terms

Are you a trustee or beneficiary of an older, irrevocable trust that has terms which should be modified? One alternative worth considering, at least in Arizona: look into a family settlement agreement (sometimes described as a non-judicial settlement agreement) to modify the trust’s terms. It might not always be the best, or most workable, idea. But it is one important tool in the planner’s toolbox.

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