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Delaware Trusts: Safeguarding Personal Wealth
Northern Trust
Over the years, many families and their advisers have come to find that the State of Delaware is a trust-friendly jurisdiction that promotes modern laws and attractive income tax advantages. This
The Impact of Global Reporting Requirements on Multinational Families
BNY Mellon Wealth Management
There is a growing desire to combat money laundering as part of the ongoing worldwide efforts against terrorism, and a crackdown on tax evasion has been recognized as one way to satisfy the urgent
Teaching Your Old Trust New Tricks
Northern Trust
Simply because the instrument governing your trust states that it is irrevocable and cannot be amended does not mean it cannot be modified to serve your family’s needs and changing
SCOTUS Rules that North Carolina Tax on Certain Trusts Violates the Due Process Clause of the Fourteenth Amendment
BDO
On June 21, 2019, the Supreme Court of the United States issued a unanimous opinion finding that North Carolina’s imposition of an income tax on trusts based solely on the residence of a trust
Supreme Court Decision in Kaestner Could Create New Opportunities to Save State Taxes by Moving Trusts to Tennessee
John M. Bunge, Waller Lansden Dortch & Davis
A new U.S. Supreme Court ruling in the Kaestner case means that more out-of-state residents will be able to realize fully the benefits of Tennessee's progressive trust laws and zero income tax on
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Is the Traditional Bypass Trust Outdated?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