Perhaps the most important requirement the UTDA would usher in is the need for a trustee to provide notice of his intent to decant
to all "qualified beneficiaries" a term that the statute defines along with the settlor, if living.
For example, only a handful of states allow a trust to be decanted
without providing notice to the original trust beneficiaries (failure to provide required notices can cause the decanting to fail).
An amicus brief submitted by the BBA urged the SJC to seize this opportunity to hold that trustees inherently possess the authority to decant
. (34) Noting that a number of states have enacted decanting statutes, the SJC opted not to adopt the BBA's position, suggesting it might be better for the Massachusetts legislature to consider its own statute.
In Letter Ruling 200607015, which addressed a situation where all of the trust assets were decanted
to a series of second trusts that had the same dispositive provisions as the first trust, the IRS ruled the second trusts should succeed to the first trust's tax attributes.
RESIDENTS of a rundown Stockton town centre estate could be "decanted
" as part of a major regeneration scheme.
In planning for disasters in the UK's West Gloucester region, provisions were made for patients to be decanted
to smaller hospitals so as to free beds in the larger hospitals.
Finally, we decant
wines to bring them up to an enjoyable temperature when they may have been stored a little cold.
Firstly, because if it's roughly decanted
you'll lose the delicate beauty that comes with age.
When delivered to the end users, the pack does not need to be decanted
on to internal use pallets as the Stax pallet is suitable for use in all areas.
The company further claims that the proprietary design, which features bundles of specialized polypropylene tubes, is more effective than decant
, disc or belt-type oil skimmers.
He said: ``The health authority, the trust, the consultants, ourselves and our advisors will be sitting down over the next two weeks, so by the time the health authority makes a decision we'll know how you would make a decant
work on that site - and we have no doubts it can work.''
Several states recognize a common law right to decant
. Some commentators have analogized decanting to the trustee's exercise of a special power of appointment (see, e.g., Blattmachr, Horn, and Zeydel, "An Analysis of the Tax Effects of Decanting," 47 Real Prop., Trust and Est.