Where should I situs a trust that is an irrevocable non-self settled trust (SLAT)? Instead of my home state (GA), go to DAPT state based on other factors aside from asset protection?
Background:
My wife and I have an estate worth conservatively around 20 million. If our finances go as planned, it will likely be closer to 30 million or more in the next 10 years. We want to move assets out of our estate, especially with the possibility of the TCJA limits expiring at the end of 2025. We are thinking about using a SLAT.
In addition to those assets I have a Roth IRA that could have $9 Million in the next 5 years (Or less than 1 million depending on how the investments go). Another 1 Million in other qualified retirement accounts (defined benefit plan, 401k). Not sure if these retirement accounts change the calculus.
DAPT states have a lot of benefits outside asset protection like zero state income tax, trust case law, privacy, flexible decanting, etc etc. Are there reasons NOT to form it in SD or NV etc?
Thanks in advance!
Background:
My wife and I have an estate worth conservatively around 20 million. If our finances go as planned, it will likely be closer to 30 million or more in the next 10 years. We want to move assets out of our estate, especially with the possibility of the TCJA limits expiring at the end of 2025. We are thinking about using a SLAT.
In addition to those assets I have a Roth IRA that could have $9 Million in the next 5 years (Or less than 1 million depending on how the investments go). Another 1 Million in other qualified retirement accounts (defined benefit plan, 401k). Not sure if these retirement accounts change the calculus.
DAPT states have a lot of benefits outside asset protection like zero state income tax, trust case law, privacy, flexible decanting, etc etc. Are there reasons NOT to form it in SD or NV etc?
Thanks in advance!
Statistics: Posted by araomd — Sat Oct 12, 2024 7:24 pm — Replies 1 — Views 136