Why change the trust situs?
One reason to change the situs of a trust could be to minimize state taxation but there are other possible reasons as well. The reason the trustee may want to change the situs of a trust include choosing another jurisdiction that has more favorable trust laws, convenience, and state income taxation. This video reviews the procedures for changing trust situs and the impact it could make.
Melissa M. Price
McDermott Will & Emery
- Private client attorney in New York, New York
- Partner at McDermott Will & Emery LLP
- Practice includes various aspects of domestic and international estate and tax planning
- Speaks on numerous topics related to estate and tax planning
- Double degree of civil law (BCL) and common law (LLB) from McGill University Faculty of Law
- Member of the American Bar Association – Section of Real Property, Trust and Estate Law
- Can be contacted at [email protected] or (212) 547-5892
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