Entries by jhtc

Why choose a Wyoming trust company?

STEP Journal, Volume 21, Issue 6, June 2013 Christopher M Reimer and Amy M Staehr discuss Wyoming’s trust-friendly laws Christopher M Reimer is a Partner and Amy M Staehr is an Associate with Long Reimer Winegar Beppler LLP, Jackson, Wyoming. Escalating tax and reporting pressures on US and non-US trusts alike are forcing wealth planners […]

Is Delaware folding up its welcome mat?

In December 2012, a Delaware court issued an opinion reversing Delaware’s long-standing judicial practice of hearing consent petitions to the validity of various aspects of trusts.  Historically, attorneys have such petitions to achieve a sense of comfort for their clients by obtaining the court’s blessing regarding the trust’s terms, applicable law and situs. In the […]

IRS creates new hurdles for Delaware trusts.

2013 Private Letter Ruling on Incomplete Non-Grantor Trusts Leaves Delaware in the Cold In January 2013, the IRS issued its Private Letter Ruling* since 2007 pertaining to Incomplete Non-Grantor Trusts.  Incomplete Non-Grantor Trusts eliminate state income tax in certain jurisdictions that do not tax accumulated income and capital gains.  The IRS ruled that in order […]

Alert regarding Delaware trusts, estates and taxes.

Morris Nichols Arsht & Tunnell Three recent Court of Chancery (the “Court”) opinions all involving related trusts, indicate that some of the relief traditionally granted in response to trust consent petitions filed pursuant to Court Rules 100-104 (the “Rules”) may no longer be granted by the Court. See In Re The Ethel F. Peierls Charitable […]

2013 amendments to the Wyoming uniform trust code.

Updated May 15, 2013 Statutory Decanting – Wyo. Stat. § 4-10-816 The amendment clarifies that the common law rule of decanting is recognized in Wyoming. If a trustee has the power to make discretionary distributions, the trustee may distribute property in further trust when such is advisable. Self-Settled Discretionary Trusts – Wyo. Stat. § 4-10-506 […]

Wyoming named #2 best run state.

The Best and Worst Run States in America: A Survey of All 50 24/7 Wall Street  2. Wyoming > Debt per capita: $2,694 (18th lowest) > Budget deficit: 10.3% (32nd largest) > Unemployment: 6.0% (7th lowest) > Median household income: $56,322 (13th highest) > Pct. below poverty line: 11.3% (6th lowest) Wyoming is not the best-run state in the nation this […]