Client Affairs

Looming Deadlines Make For Busy Wealth Structuring Season

Tom Burroughes, Group Editor, 14 May 2012

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The November US elections – and the risk of a hike to tax rates – could produce a surge in work as people seek to front-load any income possible to recognize that income this year when income tax rates are lower than they may be next year,” she said. “It is going to be extremely busy.”  

And her business means a tight focus on the web of different trust structures and protections that vary from state to state across the US. She discussed how attractive trust structures in states such as Delaware and Nevada create a regular source of business from clients seeking tax-advantaged, secure trusts. If someone wants to set up a discretionary trust, say, and is the discretionary beneficiary, they have to be in a state where the creditor cannot get his/her hands on the trust to avoid possible estate tax inclusion of the trust assets. Besides Delaware and Nevada, other states that offer attractions of this sort are South Dakota, New Hampshire and Alaska.

She and her colleagues are going to be busy.

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