Trust Situs for Dynasty Trusts and DAPTs: Key Differences Among Top-Tier States

Selecting the Best Situs Among Nevada, Delaware, Alaska, South Dakota, Ohio, Tennessee and Wyoming--and Why

Recording of a 90-minute CLE webinar with Q&A

Conducted on Thursday, August 8, 2013

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide counsel with an understanding of the key differences and variables among leading dynasty trust and domestic asset protection trust (DAPT) jurisdictions. The panel will outline what to consider when advising clients on the most appropriate jurisdiction in which to domicile a trust.

Description

Dynasty trusts and DAPTs have both become an integral part of many estate and asset protection plans. Clients from all 50 states and D.C. are candidates for this type of planning, so counsel must understand the significant differences among the jurisdictions.

Ohio has recently modified its laws to allow DAPTs and to make its dynasty trust laws more desirable. Counsel are now faced with deciding whether to domicile a trust in Nevada, Delaware, Alaska, South Dakota, Ohio, Tennessee or Wyoming—or another jurisdiction.

Appropriate situs selection and planning are even more challenging for practitioners when clients favor their own state laws and make a case for their home state. If that's not the best choice, counsel must prepare to educate clients on the best situs for their situation.

Listen as our panel comprised of estate planning and asset protection attorneys discusses state and case law differences among key trust situs states. The panel will review the material differences among jurisdictions and provide attendees with the key knowledge needed to make appropriate jurisdictional decisions for their clients.

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Outline

  1. Dynasty trusts generally
  2. Domestic asset protection trusts generally
  3. Dynasty trusts
    1. Perpetuities differences
    2. Spendthrift trust and exception creditor differences
    3. Other key differences
    4. Drafting around the state law problems
  4. Domestic asset protection trusts
    1. Statute of limitations
    2. Exception creditor differences
    3. Other key differences
    4. Drafting around the state law problems
  5. Summary

Benefits

The panel will review these and other key questions:

  • Which states have the most effective dynasty trust statutes?
  • Which states have the most effective DAPT statutes?
  • What are the material differences—advantages and disadvantages—among the different top tier jurisdictions?
  • How can counsel draft the trust document around some of the state law problems?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Oshins, Steven
Steven J. Oshins
Member
Oshins & Associates

Mr. Oshins' practice focuses on estate planning and asset protection. He was named Las Vegas Trusts and Estates...  |  Read More

Eido M. Walny
Eido M. Walny
Walny Legal Group

His practice focuses on estate planning, asset protection, business succession, probate, and trust administration. His...  |  Read More

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