Meeting Materials

Session 4: When a Grantor Trust Isn’t So Great: Planning for and with Non-Grantor Trusts and Partial Non-Grantor Trusts

Leave the trail and hit the glades of planning with non-grantor trusts. Conclude your trip to the backcountry with a scenic tour of the state income taxation of trusts.

Topics include running the gauntlet to avoid state income taxation through change of situs, decanting or making beneficiaries (including other trusts) the deemed owners for income tax purposes. This session will also discuss the use of ING trusts, SLANTs and other flexible non-grantor trust structures, state responses to such structures, including the New York and California anti-ING statutes, and different techniques to avoid their impact (including the throwback tax). Finally, this session will explore the federal tax planning opportunities available through the use of non-grantor trusts (including QSBS stacking) and foreign non-grantor trust issues.

Speakers: Michael M. Gordon, Michelle B. Graham, Edwin P. Morrow