Trust Laws in the United States - by Todd Mayo (Hardcover)

About the Book

Written by experienced attorneys and other subject matter experts, this book is an in-depth survey of trust laws in the United States. It provides clear explanations of the law and practical insights into its application. A series of state-specific chapters cover key aspects of each state's trust laws in the most populous states, as well as key jurisdictions like Delaware, Nevada, New Hampshire, South Dakota, Tennessee, and Wyoming. Topics covered include: the creation of trusts, modification of trusts, decanting, trustee duties, directed and divided trusts, and state income taxation of trusts

Book Synopsis

In the United States, trusts are widely used for wealth transfer and tax planning purposes. Laws governing trusts vary from state to state, although the evolution of these laws has led to increasing uniformity. But important distinctions remain, and several states notably stand apart, endeavouring to be more attractive to those seeking to form and administer trusts. Overlaying state laws, some federal laws - particularly those concerning taxes - play a central role in trust design and administration.

Providing an in-depth survey of trust laws in the United States, this book offers clear explanations of the law and insights into its application. In particular, state-specific chapters examine key aspects of trust laws in the most populous states, as well as key jurisdictions like Delaware, Nevada, New Hampshire, South Dakota, Tennessee and Wyoming. Coverage includes:

the creation and modification of trusts; decanting; trustee duties; directed and divided trusts; and state income taxation of trusts.

In addition, topic-based chapters discuss:

the federal income taxation of trusts; choice of law principles; drafting the trust instrument from a professional trustee's perspective; and the use of mediation to resolve trust disputes.

This book is a comprehensive resource for lawyers, accountants, trust officers and all others who advise settlors, beneficiaries and trustees on the formation and administration of trusts in the United States.