State Taxes and Trusts

Martin M. Shenkman (Attorney at Law, Tenafly, NJ) recently published his article entitled Trusts: Situs, Star Wars, and State Taxation, Wealth Strategies Journal, Feb. 22, 2011. The summary is below:

All you Wookies hear about is estate tax repeal. Be on guard, a Jedi Light Tax Saber can nick your money when and where you least expect it. So you followed the advice of the legendary Jedi Tax Master Obi-Wan Kenobi: “Let go, Luke. Luke, trust me,” and you set up a trust. Ahh, but it will take the likes of Jedi Master to sort out the myriad of state tax issues affecting your trusts.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this to my attention.