Resident Trust: In general, a Trust is considered a Resident Trust and the Trustee must file New York State
Continue Reading When does a Trust need to pay New York State income taxes?
Resident Trust: In general, a Trust is considered a Resident Trust and the Trustee must file New York State…
Continue Reading When does a Trust need to pay New York State income taxes?
A book (and soon to be a movie) Empty Mansions tells a story about Huguette Clark, a reclusive heiress to…
Another warning for anyone thinking of using self-settled trusts. A Utah court recently decided that Utah state law should apply…
Continue Reading Self-settled trusts may not provide asset protection.
Earlier I wrote a post about what is the step up that President Obama wants to eliminate. Currently, the step…
Continue Reading Trusts will be the only solution if the “Step Up” in basis is eliminated
The federal estate tax threshold for an individual is currently $5.43MM (and double that for most married couples). The New…