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Changing the Situs of a Trust

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ALM Product :BOOK
ISBN: 9781588520142
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This eminently practical deskbook will help you achieve considerable savings of income, property, gift and death taxes—even without an actual change of situs. Changing the Situs of a Trust includes suggested clauses for both inter vivos and testamentary instruments and examines court reactions to a petition for change when the trust instrument does not specifically provide for one. In addition, you'll find the full text of every state statute regarding situs changes, as well as an analysis of the key provisions of leading states and the Uniform Probate Code, the Uniform Trust Code, and the revision of the Uniform Partnership Act (including provisions governing applicable LLPs).

This thorough volume also features extensive coverage of foreign and domestic asset-protection trusts, the international governance of trusts, U.S. tax treatment of transfers to foreign trusts and recognition of gains, departures from the traditional New York view of when a situs may be changed, the Alaska Trust, and revisions to the California Probate Code.

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Table of Contents

CHAPTER 1

Non-Tax and Tax Considerations



CHAPTER 1A

Legal Problems of Multi-Jurisdictional Trusts



CHAPTER 2

Change of Situs When Statute and Trust Instrument Are Silent: Decisional Law



CHAPTER 3

Change of Situs States, the Uniform Probate Code, and the Uniform Trust Code



CHAPTER 4

Eligibility of Out-of-State and Foreign Trustees



CHAPTER 5

Discontinuity: When Change of Situs May be Deemed a Termination



CHAPTER 6

The Impact of State Income and Property Taxes on Change of Situs of a Trus



CHAPTER 7

The Impact of State Gift and Death Taxes on the Change of Situs of a Trust



CHAPTER 8

Change of Tax Impacts Without Changing Situs



CHAPTER 9

Change of Situs Clauses for Wills



CHAPTER 10

Change of Situs Clauses for Inter Vivos Trusts



CHAPTER 11

The Recognition of Trusts in Non-Trust Jurisdictions



CHAPTER 11A

Foreign Trusts: U.S. and Foreign Beneficiaries



CHAPTER 12

Asset Protection Trusts for Foreign and U.S. Persons



APPENDICES

Table of Cases

Index