Modifying Irrevocable Trusts: Methods, Governing Law, Consent Requirements, and Tax Considerations

Ms. Quintero advises clients on complex estate and wealth planning, estate and trust administration, and business succession planning. She works with individuals, families, and business owners to craft customized wealth transfer and business success solutions, including the use of revocable and irrevocable trusts, Intentionally Defective Grantor Trusts, Beneficiary Defective Grantor Trusts, Irrevocable Life Insurance Trusts, and Grantor Retained Annuity Trusts. Ms. Quintero regularly works with clients to modify existing trusts to address unintended tax consequences, changes in family situations, and other life events.

Mr. Donohue, Managing Member of Donohue, O’Connell & Riley PLLC, has expertly advised hundreds of clients on how to structure their personal affairs and businesses to minimize taxes, reduce their exposure to unforeseen liabilities and assure the smooth transition of assets between generations. He has a unique ability to efficiently process all the complexities of a situation, explain the best strategy in simple terms and craft a plan that protects families and preserves his clients’ legacies. Affluent families and business owners trust Mr. Donohue to maximize the tax efficiency of their real estate, investment and insurance assets and work with their team of trusted advisors to manage their plans. He began his legal career working in the New York and Paris offices of Leboeuf, Lamb, Greene and MacRae, LLP which had over 20 offices around the world. Fluent in French and German, Mr. Donohue was based in the New York and Paris offices and worked with clients such as Jazz at Lincoln Center, the Lower Manhattan Development Corporation (which developed the 9/11 memorial site at the new World Trade Center), the Art Students League and the American Museum of Natural History, on matters ranging from real estate finance to charitable giving programs. He also has significant firsthand experience as a real estate investor in residential and commercial buildings, which he draws upon to advise clients.

Ms. Riedisser is an experienced commercial litigator. She represents businesses and individuals in a wide range of commercial and contractual disputes. In addition to her general commercial litigation practice, Ms. Riedisser has significant knowledge in fiduciary disputes, telecommunications advocacy and litigation, and cryptocurrency disputes. As part of her broader practice, she frequently represents corporate trustees, individual trustees, and beneficiaries in litigation related to trusts, estates, wills, and guardianships in state and federal court. Ms. Riedisser also has substantial experience in disputes regarding the fiduciary or contractual duties owed by officers and employees to their employers. She defends insurance producers and financial planners facing allegations of breach of duty and negligence.