Not Your Grandfather's Irrevocable Trust: Using Non-Judicial Settlements to Modernize Trusts
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James E. Hickmon, Esq.
April 2, 2025
Description:
Just how irrevocable are irrevocable trusts? Not revocable, not amendable - and that's by design. However, that's not the end of the story. There may be ways to modernize the idea of an irrevocable trust through decanting or through non-judicial settlement agreements. Attorney Jim Hickmon is an expert in this area, and will share his thoughts about:
- Terminating, reforming, and decanting irrevocable trusts
- Non-judicial settlement agreements
- Ways to add flexibility to what are typically inflexible estate planning documents
Join us for the next installment in the ILS Speaker Series!
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James E. Hickmon, Esq.
Jim Hickmon is certified by the North Carolina State Bar Board of Legal Specialization as a Board Certified Legal Specialist in Estate Planning and Probate Law and is a Certified Financial Planner®. He serves as an adjunct professor of law at Wake Forest University teaching Wealth Transfer and Fiduciary Income Taxation of Trusts and Estates to upper-level law students. Jim is admitted to practice before the State Bars of North Carolina and Virginia.
Jim is passionate about protecting family and closely held business owners through succession planning that protects family assets after the owner’s death keeping family businesses within families. He is the author of numerous articles surrounding this subject focusing on wealth transfer, tax, probate, and fiduciary responsibility. Jim’s work is published in both regional and national publications, including the Bureau of National Affairs’ Tax Management and Compensation Planning Journal. He is a also a contributing author to the North Carolina Bar Association’s Estate Administration Manual and Fiduciary Litigation Manual and Chairman of the Real Property and Estate Planning Section of the American Bar Association’s Committee on Uniform Laws for Trusts and Estates.
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