It is common for attorneys and clients to set up trusts under the laws of their own state, but this article discusses some of the states that are known for being trust friendly. The most popular current trust friendly states are Delaware, Alaska, Nevada, and South Dakota. This article points out that while these states are known for being trust friendly, their courts will not simply “rubber stamp” everything that a trustee wants. It is still important to be aware of the individual state policies concerning trust regulations. This article provides the reader with an illustration of the different policies that these trust friendly states have.
See Martin M. Shenkman, Trust Friendly States, Wealth Management, September 15, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
