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
Introduction 5
Todd D Mayo
UBS
Part I
California 7
Sheila Bridges
Carolyn Steinwedel
Hanson Bridgett LLP
Colorado 21
Christopher D Schmidt
Taylor A Smith
Goodspeed Merrill
Connecticut 33
Von Sanborn
Constance E Shields
Teitler & Teitler LLP
Delaware 41
Kimberly Gill McKinnon
McCollom D'Emilio
Smith Uebler LLC
Florida 67
Osvaldo Garcia
J.P. Morgan Private Bank
Christopher C Weeg
Comiter Singer
Illinois 83
Susan T Bart
Allison K Pfeifle
ArentFox Schiff LLP
Massachusetts 99
Dena Hirsch
Ruth Mattson
Verill Dana LLP
Nevada 109
Michaelle D Rafferty
Maupin, Cox & LeGoy
New Hampshire 129
Patrick Collins
Brandon Vallie
McLane Middleton, P.A.
New Jersey 139
Kevin R Centurrino
Lance T Eisenberg
Berkowitz, Lichtstein, Kuritsky, Giasullo & Gross LLC
Ohio 163
Matthew R Hochstetler
Kirkland Hochstetler PLLC
Pennsylvania 179
Jennifer DiVeterano Gayle
Mannion Prior LLP
South Dakota 191
James Paladino
Mario Signori
JTC USA
Tennessee 203
John M Bunge
Aaron B Flinn
Holland & Knight LLP
Texas 217
Jennifer Lan
UBS
Washington 229
Karen E Boxx
University of Washington School of Law
Wyoming 241
Christopher M Reimer
Amy M Staehr
Long Reimer Winegar LLP
Part II
Federal income taxation of trusts 257
Brad Dillon
Andreessen Horowitz
Choice of law in US trusts 271
Ronald J Scalise Jr
Tulane Law School
Drafting the trust instrument: a professional trustee's perspective 285
Sarah Grandfield
Bessemer Trust
Resolving trust disputes through mediation 301
Kevin W Rethore
Caffrey Hill PLLC
About the authors 309
About Globe Law and Business 319
