Domicile Planning for Individuals, Estates and Trusts: Key State Tax Issues and Shifting Residency to Maximize Tax Benefits
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE webinar with Q&A
This CLE course will provide estate planners and advisers with an in-depth analysis of domicile planning for individuals and their wealth planning structures. The panel will discuss the criteria states use to tax individuals and trusts, and critical elements for shifting the basis for taxation from one state to another to avoid high taxes and to gain the use of certain state-specific exemptions and benefits.
- Individuals and estates
- Domicile v. residency
- Factors state taxing authorities look to in determining domicile
- Considerations in changing domicile
- Domicile planning
- Pre-domicile planning
- Making it stick: best practices for maintaining the new domicile
- Domicile audits
- Residency factors
- Strategic situs considerations to minimize income taxes
- Popular jurisdictions - Delaware, South Dakota, Alaska, Florida, and Nevada
- Impact of N.C. Dep't of Revenue v. Kaestner 1992 Family Trust
- Changes to trust situs: Fiduciary changes, trust modifications, and decanting
The panel will review these and other key issues:
- How do domicile and situs impact trust and estate planning?
- What steps should an individual take to establish domicile in a new state?
- What are the critical factors in determining whether a trust is resident or nonresident for state tax purposes?
- What impact does N.C. Dep’t of Rv. V. Kimberly Rice Kaestner 1992 Family Trust have on domicile planning?
Patrick C. Emans
Holland & Knight
Mr. Emans is a Miami attorney who serves as general counsel to wealthy individuals, their families and their... | Read More
Mr. Emans is a Miami attorney who serves as general counsel to wealthy individuals, their families and their businesses. He focuses his practice on domestic and international estate and tax planning, administration of complex estates and trusts, and trust and estates litigation. Mr. Emans also assists charitable organizations in obtaining and maintaining their tax exempt status.Close
Shaina S. Kamen
Holland & Knight
Ms. Kamen concentrates her practice on sophisticated trusts and estates matters for individuals and families. She... | Read More
Ms. Kamen concentrates her practice on sophisticated trusts and estates matters for individuals and families. She advises clients on all aspects of estate, gift and generation-skipping transfer tax planning, and works with clients and family offices to create estate and business succession plans consistent with family goals. In addition, Ms. Kamen works with clients to build their charitable legacies by developing and administering charitable giving programs through the use of entities such as private foundations and charitable trusts. Her practice also encompasses all aspects of estate and trust administration in New York and Florida.Close