When considering which state to form a Private Trust Company (PTC), there are various laws and topics that should be considered, including requirements around annual reporting, residency of personnel, and capital requirements.
Jennie Cherry and Miles Padgett, Kozusko Harris Duncan
Friday, April 12, 2019
Over the past decade, matriarchs and patriarchs of successful families have been shifting their focus of the family’s largess from their children to a broader group of individuals, such as grandchildren, siblings, and nieces.
Jennie Cherry and George N. Harris Jr., Kozusko Harris Duncan
Thursday, April 11, 2019
Trusts classified as foreign for U.S. tax purposes, whether established under the law of a U.S. state or of an offshore jurisdiction, must review whether they have any U.S. tax or information reporting filings to make in 2019 with regard to income earned and distributions made in 2018.
Families with complex assets, such as family businesses or multistate real estate holdings, as well as those who have portfolios managed by multiple advisors, may find trustees reluctant to administer their trusts.
Is philanthropy one of your top priorities? One way to make your estate plan more philanthropic is through a Charitable Remainder Trust (sometimes called a CRT, CRUT, or CRAT, depending on the form it takes).