Membership Lunch Meeting - Modifying Irrevocable Trusts in Light of Maryland’s New Decanting Statute

Date: Thursday, February 8, 2024
Time: 12:00pm - 2:00pm
Location: Cured 18th and 21st - 10980 Grantchester Way #110, Columbia
Speaker: Sarah Kahl, Venable; Alex Tanouye, Brown Advisory; Laura Thomas, Legacy Legal Planning

Members are encouraged to bring prospective member guests; member-hosted guests may attend at no charge.

About the Program: 
Maryland’s new trust decanting statute went into effect on October 1, 2023. Decanting could be a game-changer, but it may not always be the right option. Our industry panelists will review mechanisms for irrevocable trust modification including decanting, the use of nonjudicial settlement agreements, and judicial intervention, and will evaluate the utility of each approach.

About the Panelists:
Sarah Kahl is a partner at Venable, where she focuses her practice on tax and estate planning for individuals and families. Sarah also represents fiduciaries and beneficiaries on the proper administration of a trust or estate. She is a fellow of the American College of Trust and Estate Council (ACTEC). Sarah is the current chair of the Maryland State Bar Association (MSBA) Estate and Trust Law Section. In her work with the MSBA, Sarah successfully advocated for the passage of the Maryland Trust Decanting Act, a law that provides options for the modification of trusts. She met with stakeholders, drafted amendments, and testified before members of the Maryland House of Delegates and Senate. With her CPA background, she reviews a client's entire financial picture to tailor appropriate tax strategies to the particular client. Her practice includes the administration of foreign trusts and planning for individuals with foreign connections. Sarah is a graduate of Georgetown University Law Center.

Alex Tanouye is a partner and head of fiduciary services at Brown Advisory. As the firm's senior fiduciary officer, he is responsible for the oversight of trust and fiduciary relationships and for the delivery of fiduciary services and advice to solve clients' complex legacy planning objectives. Prior to joining Brown Advisory, Alex was Senior Fiduciary Officer and Legal Counsel at The Northern Trust Company. He previously enjoyed 13 years in private trust and estate law practice, most recently as a partner of Pasternak & Fidis, P.C. Alex is an ACTEC Fellow and author of the ACTEC State Survey on Surviving Spouse's Rights to Share in Deceased Spouse's Estate, first published in 2018. He is a graduate of the University of Maryland School of Law.

Laura Thomas is the founder of Legacy Legal Planning, LLC, a Howard County law firm focusing on estate planning and administration. She helps her clients figure out what "legacy" means to them and creates a unique estate plan to transfer that legacy to future generations. Laura is Vice-Chair of the Howard County Estate Planning Council; a member of the MSBA Estate and Trusts Section Council, where she serves as vice chair of the Legislative Committee; and a member of leadership in the ABA Real Property Trust and Estate Section and its Business Planning Group. Locally, she is a board member of the Howard County Conservancy.

12:00 pm - Registration, networking and buffet lunch
12:30 pm - Program begins
1:45 pm - Program ends


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