Trust Situs CLE Course

The American Bar Association is sponsoring a 90-minute teleconference and live audio Webcast entitled Selecting the Situs of a Trust: State Fiduciary Income Tax Implications on Wednesday, February 8, 2006.  Here is the ABA’s description of the program:

Proper planning can minimize or avoid state tax on trust income. In contrast, poor planning can expose a trust’s income to tax by more than one jurisdiction. Since fiduciary income tax can be a significant expense for trusts, a trust’s situs can have a substantial impact on the growth of the trust assets. A trust’s situs can often be selected or changed to take advantage of differences in tax laws across jurisdictions.

In this program, our expert faculty will focus on state tax-savings opportunities for nongrantor trusts that can be created based on the trust’s situs. Participants will learn:

• How different states determine a trust’s situs for income tax purposes
• How it may be possible to change a trust’s income tax situs
• Planning and ethical issues to consider when selecting or changing the situs of a trust