The Best and Most Wealth Friendly States for Trusts

January 23, 2010

A recent post on The Trust Advisor Blog provides a chart listing the best states for trusts. The ranking factors considered are (1) state income tax in the state, (2) directed trust statute, (3) asset protection trust availability, (4) dynasty trust ability, and (5) the number of trust companies in the state.

Below is the chart reproduced with the kind permission of Jerry Cooper.

The Best States for Trusts
Tier	State*	State Income Tax	Directed Trust Statute	Asset Protection Trust	Dynasty Trust Ability	Number of Trust Cos.	Time Zone (from NY)
1	Alaska	No	Yes	Yes	1000 yrs.	3	(-) 4
1	Delaware	Residents	Yes	Yes	Perpetual	32	(-) 0
1	Nevada	No	Yes	Yes	365 yrs.	26	(-) 3
1	South Dakota	No	Yes	Yes	Perpetual	39	(-) 1 / 2
2	Florida	No	No	No	360 yrs.	9	(-) 0
2	New Hampshire	Residents	Yes	Yes	Perpetual	19	(-) 0
2	Wyoming	No	No	Yes	1000 yrs.	2	(-) 2
3	Colorado	Yes	Yes	Yes	1000 yrs.	7	(-) 2
3	Idaho	Yes	No	No	Perpetual	3	(-) 2
3	Ohio	Residents	No	No	Perpetual	2	(-) 0
3	Utah	Yes	No	Yes	1000 yrs.	2	(-) 2
3	Wisconsin	Residents	No	No	Perpetual	4	(-) 1
*States: links to State Trust Statutes Data: January 2010
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For other state rankings, updated versions of the chart, and related information, see Jerry Cooper, America’s Most Wealth Friendly States Continue to Bid for Your Clients’ Trust Business, The Trust Advisor Blog.

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Estate Planning - Generally and Trusts