by PTC Research | Oct 1, 2024 | Articles
If an irrevocable trust pays “income” to a beneficiary, the Uniform Fiduciary Income and Principal Act, and many States’ laws already enacted, authorize the trustee to convert this irrevocable trust from an “income” trust to a “unitrust.”...
by PTC Research | Jun 10, 2024 | Articles
There are many factors to consider when deciding on where to locate a trust and which State’s laws will govern the trust. A handful of these factors continue to garner much attention, and be on the forefront of States’ efforts at both refining laws around trusts and...
by PTC Research | Jun 10, 2024 | Announcements
The new Corporate Transparency Act (“CTA”), which took effect January 1, 2024, has been held unconstitutional by the U.S. District Court in Alabama. The District Court Judge held there was lack of case precedent for the argument that national security supports such...
by PTC Research | Dec 20, 2023 | Articles
The new Corporate Transparency Act (“CTA”) takes effect January 1, 2024, and trustees are preparing for the reporting required of them for potentially the trusts they administer and certain entities owned by those trusts. The CTA has established various requirements...
by PTC Research | May 23, 2023 | Articles
An Irrevocable Life Insurance Trust (ILIT) is a commonly used tool for preserving wealth and providing for beneficiaries. The plan is to create an irrevocable trust and fund it with enough money to purchase life insurance on the life of the grantor, typically, so...
