My children are beneficiaries of my trust which will become irrevocable when I die. It has instructions for distribution of trust assets to them. A nagging concern I have is the ability for beneficiaries of an irrevocable trust to change provisions of the trust, as long as doing so does not violate the material purpose of the trust, and as long as all beneficiaries agree. This can be done through a nonjudicial settlement agreement, a mechanism under the Uniform Trust Code adopted with variations in most states. One's trust instructions are not ironclad. But, I still think its better to have a trust than not have one.
I get the short-term bond argument but I think the downside should be acknowledged. Quoting the "Bond Market Risks" article in the Humble Dollar Financial Guide, "If you swap into short-term bonds or cash investments, you will reduce the chance of a large loss, but you will pay a price in the form of reduced income."
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My children are beneficiaries of my trust which will become irrevocable when I die. It has instructions for distribution of trust assets to them. A nagging concern I have is the ability for beneficiaries of an irrevocable trust to change provisions of the trust, as long as doing so does not violate the material purpose of the trust, and as long as all beneficiaries agree. This can be done through a nonjudicial settlement agreement, a mechanism under the Uniform Trust Code adopted with variations in most states. One's trust instructions are not ironclad. But, I still think its better to have a trust than not have one.
Post: K-shaped Economy
Link to comment from July 19, 2026
I get the short-term bond argument but I think the downside should be acknowledged. Quoting the "Bond Market Risks" article in the Humble Dollar Financial Guide, "If you swap into short-term bonds or cash investments, you will reduce the chance of a large loss, but you will pay a price in the form of reduced income."
Post: Staying Rational
Link to comment from April 18, 2026