Wednesday, August 21, 2013
Jurisdictions have different laws when it comes to determining the jurisdiction of trusts and trust property. Founding Principal of McManus & Associates, John O. McManus, has shared his expertise by listing the ten most important considerations for deciding where to site your trust. Listed below are the considerations. To listen to to the Educational Focus series that discussed these considerations in detail check out the article.
- What is a self-settled trust? When can the grantor list himself or herself as a beneficiary?
- How do state income taxes affect the choice of situs for my trust?
- What variation is there in state legislation regarding creditors and Statute of Limitations?
- Are certain exemptions made for specific types of creditors?
- What are the standards for proving fraudulent transfers?
- What role do the courts play regarding actions involving a Trust?
- Does the state require an Affidavit of Solvency upon the transfer of assets?
- How does the rule against perpetuities affect choice of situs?
- Discussing observations of trustee fees in each of the most favorable states.
- What are some of the other miscellaneous trust enhancements in the most favorable states
See Conference Call:Top 10 Considerations for Domestic Asset Protection Dynasty Trusts, McManus & Associates, Aug. 20, 2013.