Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Saturday, April 19, 2014

Article on The State of Your Trust

TrusttileDennis Delaney (Hemenway & Barnes) recently published an article entitled, The State of Your Trust: Where Should a Trust Be Sited?(Feb. 18, 2014). Provided below are the trust planning pain points from Reuters:

- Tax law: state income tax on trusts vary from region to region. Some consider the location of the beneficiary and some the trustee, making for a confusing patchwork of statutes.

- Decanting: even if a trust is irrevocable, changes may be made through “decanting,” the process of distributing assets from an old trust into a new one with different provisions.

- Quiet trusts: a relatively new vehicle that lets grantors decide when they will tell beneficiaries about a trust.

See Steven Maimes, Location of Trusts A Critical Factor in Trust and Estate Planning, Reuters, Feb. 18, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/04/article-on-the-state-of-your-trust.html

Articles, Income Tax, Trusts | Permalink

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