Understanding Situs: The Good, the bad, and the ugly of having a trust established in a state with Domestic Asset Protection Statutes.
There is a current trend in which some states, such as Nevada, have created statues that are very favorable to the grantor of a trust. There is much confusion around how these trusts operate; with many professionals either applying the statutes for improper purposes or overpromising which benefits apply because of a misunderstanding in how laws are applied to a trust based on situs. This session will be a one hour discussion explaining how an estate planning professional should view these trusts and the potential land mines that one might step on when working with these various trust solutions.
Steven Hall, BS, JD, MBA,
Steven is a Senior Trust Onboarding Officer at Charles Schwab Trust Company (CSTC). Prior to joining CSTC in March, 2017, Steven served as a Regional Consultant for Fidelity Investments. Before moving to a career in finance and investing in 2000, Steven served in the U. S. Marine Corps. Steven earned his Bachelor of Science and his MBA from Western Governor’s University, and his Juris Doctorate degree from the University of Arkansas.