IRS Issues Positive Ruling on Trust Decanting.

A new IRS ruling is positive in that it gives the strongest green light to the concept of decanting a trust. However, a key component of the ruling (not imposing any taxes) relates to the similarity between the old and new trusts, so it remains to be seen how the IRS will treat a decanting in which the two trusts are markedly different. Also, don't expect a lot of future guidance from the IRS. Thus, this ruling may constitute practitioners guidance for a while. [ABSTRACT FROM AUTHOR]