Taxes

Exploring the Advantages of Trust Situs in the Rushmore State

During the formation of a trust, it is very important to consider the situs (or location) in which the trust will be governed. Factors such as tax regulation, asset protection, and privacy levels can all vary depending on a trust’s situs. Therefore, choosing the right situs can significantly impact the effectiveness and efficiency of a trust. Although it may seem like an interesting choice to many …

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Potential Impacts of the Build Back Better Act on Estate Taxes and Grantor Trusts

November 12, 2021 UPDATE: The BBB draft legislation has been revised and updated, most recently (as of this writing) as of November 4. The newer draft takes several of the proposed changes off the table. Significantly, this version does not include the reduction in the estate tax exemption (and corresponding gift and generation-skipping transfer tax …

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