Trust Situs and State Taxation: Practical Planning Implications


Melissa (Moszkowski) Price present a webinar on Trust Situs and State Taxation: Practical Planning Implications on Friday, November 2, 2018

State tax departments are becoming more aggressive at collecting revenues and this trend is likely to continue in light of state fiscal issues. The situs of a trust may impact the rules that govern the trust, the validity of certain provisions, the powers of the trustees, and the degree of asset protection. Moreover, the situs of a trust may impact the state taxation of the trust. The rules under which a state can tax a trust are complex and vary from state to state. It is critical to understand these rules when undergoing trust planning, drafting, administration or compliance.

This session discussed various aspects of the situs of a trust, including factors that impact the situs of a trust. The webinar also covered how various states tax trusts, compared the rules in different states, and considered the constitutionality of these rules. This information is critical to attorneys, accountants and other professionals involved in creating trusts, drafting trust agreements, advising clients on the situs and taxation of trusts, and preparing income tax returns for trusts.

Situs of a Trust

    • Impact of the Situs of a Trust
    • Factors That Determine the Situs of a Trust
    • Practical Considerations

State Taxation of a Trust

    • Taxation of Resident vs. Non-Resident Trusts
    • Factors That Determine Trust Residency
    • Constitutionality of State Rules
    • Practical Considerations

Changing Trust Situs

    • State Law Requirements
    • Impact on State Taxation

View further information on ‘Trust Situs and State Taxation: Practical Planning Implications’ here.

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