Rabbi Trusts

Joel S. Newman (Professor of Law, Wake Forest University – School of Law) has recently posted the abstract of his article Rabbi Trusts for Indian Children: The Story of a Revenue Procedure on SSRN.

Here is the abstract of his article:

This article tells the story of Revenue Procedure 2003-14. It was designed to be a safe harbor, to allow Indian tribes to get rabbi trust treatment when they established trusts to hold casino revenues for the benefit of Indian children. However, Newman reports, so far it hasn’t worked.