Full Description
In the United States, trusts are widely used for wealth transfer and tax planning purposes. The laws governing trusts vary from state to state, although the evolution of those laws this century has led to increasing uniformity of those laws among many states. But important distinctions remain, and several states notably stand apart, endeavoring to be more attractive to those seeking to form and administer trusts. Overlaying the state laws, some federal laws - particularly those concerning taxes - play a central role in the design and administration of trusts.
Written by experienced attorneys and other subject matter experts, this book is an in-depth survey of trust laws in the United States. It provides clear explanations of the law and practical insights into its application. A series of state-specific chapters cover key aspects of each state's trust laws in the most populous states, as well as key jurisdictions like Delaware, Nevada, New Hampshire, South Dakota, Tennessee, and Wyoming. Topics covered include:
the creation of trusts,
modification of trusts,
decanting,
trustee duties,
directed and divided trusts, and
state income taxation of trusts.
In addition, a series of chapters covers subjects that are relevant to trusts throughout the United States. These topical chapters include:
the federal income taxation of trusts,
wealth transfer tax considerations in the design and administration of trusts,
considerations in selecting a trust situs,
choice of law principles, and
the use of mediation to resolve trust disputes.
This book is a comprehensive resource for lawyers, accountants, trust officers, and others who advise settlors, beneficiaries, and trustees on the formation and administration of trusts in the United States.
Contents
Forward
Todd D. Mayo
UBS
Part I
Arizona
California
Colorado
Chris Schmidt
Taylor Smith
Goodspeed Merrill
Connecticut and New York
Von Sanborn
Constance E. Shields
Teitler & Teitler
Delaware
Florida
Osvaldo Garcia
JP Morgan
Christopher Weeg
Comiter Singer
Georgia
Illinois
Susan Bart
ArentFox Schiff
Massachusetts
Ruth Mattson
Verill Dana
Michigan
Nevada
Michaelle D. Rafferty
Maupin, Cox and LeGoy
New Hampshire
Patrick Collins
Brandon Vallie
McClane Middleton
New Jersey
Kevin Centurrino
Lance T. Eisenberg
Berkowitz, Lichtstein, Kuritsky, Giasullo & Gross, LLC
North Carolina
Ohio
Oregon
Emily Karr
Stoel Rives
Pennsylvania
Jennifer Gayle
Mannion Prior
South Dakota
Jim Paladino
Mario Signori
South Dakota Planning Company
Tennessee
John Bunge
Aaron Flinn
Holland & Knight
Texas
Virginia
Washington
Karen E. Boxx
University of Washington
Wyoming
Chris Reimer
Amy Staehr
Long Reimer Winegar LLP
Part II
Federal income taxation of trusts
Brad Dillon
Andreessen Horowitz
Federal gift and estate tax considerations
Implications of beneficial ownership reporting on trusts
Considerations in selecting a trust situs
Todd D. Mayo
UBS
Resolving trust disputes through mediation
Kevin Rethore
Caffrey Hill
Choice of law in respect of trusts
Ronald J. Scalise
Tulane Law School
