Every family has its own reasons for establishing a private family trust company (PFTC) which can be structured to suit the family’s needs and desired goals. When deciding whether to establish a PFTC, there are several important issues to consider.
Michigan recently passed an act that allows individuals to create Domestic Asset Protection Trusts ("DAPTs"), an attractive option to help people protect their assets from the claims of third party creditors.
The Trump administration has released its tax reform outline: the “2017 Tax Reform for Economic Growth and American Jobs.” Although it doesn’t include specific proposals like the border adjustment tax, it does call for a “territorial tax system to level the playing field for American businesses,”
Matthew Tobin, Managing Director – South Dakota Trust Company, LLC
Wednesday, March 8, 2017
This webinar analyzed the meaning and understanding of “situs” as it relates to Private Family Trust Companies, and focused specifically on the concepts of trust company situs, trust situs, and tax situs.
Pam Lucina, Joan K. Crain, Justin Miller and John Welsh
Wednesday, January 25, 2017
Significant tax reform is likely on the horizon. Given the proposals from President-elect Trump and the Republicans in Congress, we may see legislation repealing the current estate tax passed in 2017, and potentially changes to the gift and generation skipping transfer (GST) tax rules.
It is near certain there will be sweeping tax legislation in 2017, but not of the sort many expected. Looking back over 2016, there were a few significant tax changes but many proposals and much speculation concerning tightening of regulations and new taxes.
By enacting progressive trust laws building on the uniform trust code, Tennessee is attracting a growing number of family offices that are seeking flexibility to adapt to changes in family circumstances and the world around them.