In August 2011, New York amended its trust decanting statute contained in Estates Powers & Trusts Law (“EPTL”), section 10-6.6, making it more liberal. "Decanting" is the ability of a trustee of an existing irrevocable trust to distribute part or all of the trust principal to another irrevocable trust (the “appointed trust”). Decanting is desirable when there is a problematic provision in the existing trust which can be eliminated in the appointed trust. For example, a trust may provide that all principal is distributable to a beneficiary upon attaining age 30. If the beneficiary is not financially responsible, it would be advisable to retain the funds in trust for a longer period of time. This may be accomplished by decanting. In addition to curing problems with substantive trust provisions, decanting can remedy administrative provisions or those which may cause an adverse tax consequence. The key is knowing the rules.