In a significant victory for Reid and Riege’s clients, the Connecticut Supreme Court upheld the authority of trustees to “decant,” or distribute assets from, an irrevocable trust and transfer them into a different trust, thereby protecting those assets from the reach of the trust beneficiary’s divorcing spouse. The case, Michael J. Ferri, et al. v. Nancy Powell-Ferri, et al., has been followed nationally by trust and divorce lawyers as well as wealth management professionals.
↧