Gerry W. Beyer
Gerry Beyer, Professor of Law at Texas Tech Univ. School of Law, writes “Wills, Trusts, and Estates Prof Blog,” a member of the Law Professor Blogs Network sponsored by Wolters Kluwer. Beyer recently took a closer look at the most recent educational conference call held by McManus & Associates and posted a brief, titled “10 Most Important Considerations for Domestic Asset Protection Dynasty Trusts.”
From the post:
Jurisdictions have different laws when it comes to determining the jurisdiction of trusts and trust property. Founding Principal of McManus & Associates, John O. McManus, has shared his expertise by listing the ten most important considerations for deciding where to site your trust. Listed below are the considerations.
To read Beyer’s post and find a wealth of information on estate planning, head on over to Wills, Trusts, and Estates Prof Blog at http://lawprofessors.typepad.com/trusts_estates_prof/.
State laws vary rather widely regarding the jurisdiction of trusts and trust assets. Certain jurisdictions have laws that are generally more favorable in their treatment of trusts for purposes of asset protection, access to trust-owned assets and creditor protection. As part of McManus & Associates’ Educational Focus Series, Founding Principal John O. McManus shares expert guidance on the top 10 things to consider when deciding where to site your trust.
LISTEN HERE: “Top 10 Considerations for Domestic Asset Protection Dynasty Trusts”
Top 10 Considerations for Domestic Asset Protection Dynasty Trusts
During the discussion, you’ll find answers to the 10 questions below:
- What is a self-settled trust? When can the grantor list himself or herself as a beneficiary?
- How do state income taxes affect the choice of situs for my trust?
- What variation is there in state legislation regarding creditors and Statute of Limitations?
- Are certain exemptions made for specific types of creditors?
- What are the standards for proving fraudulent transfers?
- What role do the courts play regarding actions involving a Trust?
- Does the state require an Affidavit of Solvency upon the transfer of assets?
- How does the rule against perpetuities affect choice of situs?
- Discussing observations of trustee fees in each of the most favorable states.
- What are some of the other miscellaneous trust enhancements in the most favorable states?
We would love to learn more about your asset protection needs. Send us an email at firstname.lastname@example.org or give us a call at 908.898.0100.