FOR IMMEDIATE RELEASE
An amicus brief in The North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust was filed on March 1, 2019, with the Supreme Court by ACTEC. This is an important case dealing with the ability of a state to tax the income of an irrevocable nongrantor trust. The College took no position in the case but instead, as noted in the brief, was filed to:
“assist the Court in understanding the history and practice of state fiduciary income taxation as applied to accumulated income in nongrantor trusts and the complexities of such statutes in the context of the multi-state contacts common in today’s mobile society.”
Oral argument in Kaestner is set for April 16. To read full brief please visit https://www.actec.org/assets/1/6/18-457_Amicus_Brief_for_ACTEC.pdf
ACTEC Fellows Gregory N. Barrick, David A. Berek, Jonathan G. Blattmachr, Jane Gorham Ditelberg, Gregory V. Gadarian, Mitchell M. Gans, Robert W. Goldman, Margaret G. Lodise, Carl I. King, Raj A. Malviya, Carlyn S. McCaffrey, Richard W. Nenno, Charles A. Redd, Robert H. Sitkoff, and Bruce Stone worked to prepare and review the brief.
Established in Los Angeles in 1949, The American College of Trust and Estate Counsel, ACTEC, is now based in Washington, DC. ACTEC is a nonprofit association of lawyers and law professors skilled and experienced in the preparation of wills and trusts; estate planning; and probate procedure and administration of trusts and estates of decedents, minors and incompetents. Its more than 2,500 members are called "Fellows" and practice throughout the United States, Canada, and other foreign countries.