Family Office Tax Webinar Series: Salt on the Wound: Navigating State and Local Taxation of Modern Trusts on June 6, 2024

Taxes can have a significant impact on family offices, influencing decisions around structure, investing and overall planning strategies. McDermott’s Family Office Tax webinar series explores the latest trends and guidance on tax planning for family offices and identifies opportunities to optimize tax efficiency.

In our second webinar in the series, we explore how various states impose taxes on nongrantor trusts, taking into account recent case law and constitutional developments.

Discussion topics include:

• Implications of these recent rules on private trust companies
• The increasingly complex trust structures of wealthy families
• Factors to consider in situsing new trusts, including the trust purposes and the location of the settlor and beneficiaries
• Mechanisms to move existing trusts to favorable jurisdictions

More in our Family Office Tax Webinar series:View the recording from our first webinar in the Family Office Tax Webinar Series on Compensation Strategies, which takes covered the legal, tax and administrative considerations a family office faces when creating incentive and deferred compensation plans for employees.

Original source can be found here.