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Special Purpose Entities (SPEs) May Now Serve as Trust Advisors in Tennessee
Aaron Flinn, Waller Lansden Dortch & Davis
Recent statutory changes in Tennessee law has authorized the separation of the traditional trustee roles by allowing for the appointment of a Trust Advisor (also referred to as a Trust Protector) who
Is a Domestic Asset Protection Trust Right for You?
James J. Steffel, Warner Norcross & Judd
A Domestic Asset Protection Trust (DAPT) provides an opportunity to protect your assets from the claims of third-party creditors, which makes it a powerful tool to enhance your estate plan. Because
Is the Traditional Bypass Trust Outdated?
Justin Vossen, Lutz
Many early-retirement Boomers feel comfortable that their estate plan is in order, having put their estate plan in place when they had younger children. With adult children, and the increase in the
Results Oriented Trusts: Balancing Settlor Intent with Beneficiary Needs
More and more families are looking to ensure that their philosophy and values align with their goals in creating trusts. A results-oriented trust is one that has been particularly designed as a tool
A Comparison of State PTC Laws
John M. Bunge, Waller Lansden Dortch & Davis
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
Family Banks: Personal Commitment, Accountability and Multi-Generational Mentoring
Jennie Cherry and Miles Padgett, Kozusko Harris Duncan
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
U.S. Reporting Checklist for Foreign Trusts
Jennie Cherry and George N. Harris Jr., Kozusko Harris Duncan
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
U.S. Reporting: Requesting IRS Filing Extensions
Jennie Cherry and George N. Harris Jr., Kozusko Harris Duncan
Even the best laid plans or checklists for filing the various U.S. forms on time can sometimes go astray. When they do, it is prudent to request an extension to file the particular return. Careful
Charitable Remainder Trusts
Hawthorn, PNC Family Wealth
The creation of a charitable remainder trust can provide you with a lifetime income stream while helping fulfill legacy goals of supporting charitable organizations that are important to you. There
Spinning Straw into Gold: Modifying Irrevocable Trusts
Sarah Chang and Scott Bieber, Thompson Coburn
Estate planners have also sought ways to modify trusts that are irrevocable as a result of changed circumstances or because the planner’s client is the beneficiary who objects to the terms of