Del DeVries : Estates And Trusts

Trusts

CPAs as Trust Protectors by Michael B. Allmon, Journal of Accountancy, March 2007. Helping clients build flexibility and additional oversight into their trusts is a manageable, meaningful new niche. http://www.aicpa.org/PUBS/JOFA/mar2007/allmon.htm

A trust protector has contractual powers (described in the trust document) to assist in guiding both corporate trustees and trust beneficiaries through legal and tax complexities to realize the trustor’s original intent. Using a trust protector provides an added safeguard over the actions of an appointed corporate trustee. The concept is common in offshore asset protection planning.
A trust protector can generally remove and replace a trustee; terminate the trust; change the situs of administration; resolve co-trustee deadlocks or beneficiary-trustee disputes; veto investment decisions; and redirect trust distributions or amend administrative provisions and trust terms based on unforeseen circumstances in the beneficiaries’ lives or changes in law.

Estate & Trust Administration

Loans to family members

Family Member Loans - this is a quagmire of regulations - gift tax implications, imputed interest possibilities, etc.

Adoption of Special Needs Children

Tax Credit Adoption Special Needs Children - examine the relevant IRS rules and definition of special needs children.

South Dakota farms

National Agricultural Statistics Service - Farm Rents and Land Values
SDSU Agriculture news http://agbionews.sdstate.edu/index.cfm?&tag=Agriculture
Agricultural Land Market Trends 1991-2007 http://agbiopubs.sdstate.edu/articles/c272.pdf

Live as if you were to die tomorrow. Learn as if you were to live forever.

Mahatma Gandhi

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