Review a trust for amendment power, duration and grantor status
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Extract the amendment power, the trustee and protector roles, the beneficiary classes and any grantor-trust powers the instrument states. Do not rewrite the trust.
- What the lawyer must review
- Validity, amendment and duration are state law. Where the state has enacted Uniform Trust Code § 411, a noncharitable irrevocable trust may be modified or terminated with the consent of the settlor and all beneficiaries even if that is inconsistent with a material purpose, and the beneficiaries alone may do so only if the court concludes the change is consistent with the limits in § 411(b). Many states have not enacted that text, or have changed it. For tax, if the grantor or another person is treated as the owner of a portion of the trust, 26 U.S.C. § 671 includes that portion’s income, deductions and credits in that person’s income. The specific powers are in the following sections of Subpart E. Open those sections and the state’s trust code. Do not treat dominion and control alone as enough (§ 671).
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes extracting and organising information. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.