News

The New Rules of Estate Planning

Wall Street Journal, Laura Saunders

The estate tax is no longer the biggest concern for most affluent people who want to avoid taxes on wealth they leave their heirs... new rules present tax-saving opportunities that many people planning estates still are unaware of - and that could contradict advice they received in the past.

 
When to 'Decant' a Trust

Wall Street Journal, Liz Moyer

It is getting easier to tinker with irrevocable trusts, thanks to a process known as "trust decanting." Such trusts used to be difficult and costly to alter even if the trustee thought a change could be in the beneficiary's best interest. But decanting lets trustees change certain terms by figuratively pouring the assets from an old trust into a new one.

 
Can You Trust Your Kid With $5.25 Million?

Wall Street Journal Kelly Greene and Arden Dale

Wealthy families got a holiday gift on Jan. 1, when Congress agreed on permanent estate-tax rules that are much more generous than many financial planners had expected. Some aren't celebrating, however. Instead, they are grappling with new questions about how best to set up trusts for their heirs—while keeping a measure of control over their wealth.

Feathering the Kids' Nest

Wall Street Journal, Annamaria Andriotis

Want to give the kids a little something extra for the holidays? Get going. The generous lifetime gift-tax exemption—in which couples can give up to $10.24 million to descendants tax free—expires at the end of the year.

Accessing NH’s Tax, Creditor Protection Benefits

Massachusetts Lawyers WeeklyAmy Kanyuk

Read more about how trust situs has emerged as a critical issue for high-net-worth families and their trusts. Whether seeking privacy, securing protection from creditors or a dissident spouse, updating existing trust provisions or looking to minimize taxes, Bay State families need look no further than their close neighbor to the north.

Bloomberg: Wealthy Americans Turn To Trusts To Shield Assets

Bloomberg, Elizabeth Ody

Read more about how asset-protection trusts are the way many insulate their wealth from lawsuit claims.

An Interview with Chip Martin, Co-Founder of Concord Trust Company

Chip addresses some of the frequently asked questions about Directed Trust Administration, Modern Trust Law, and how Concord Trust Company can help. 

Bank of America Trusts Subject To Mass. Tax, Court Rules

Law 360 , Brian Amaral

The Massachusetts Supreme Judicial Court recently turned aside Bank of America’s efforts to cut its living trust's state tax liabilities by millions of dollars, finding that the bank was indeed an “inhabitant” of the commonwealth. This ruling highlights the importance of the place of trust administration when it comes to assessing state income and capital gains tax on trusts.

ABOUT CONCORD TRUST COMPANY

Concord Trust Company (CTC) is a state-chartered and regulated non-depository trust company. We focus on helping wealthy families and their trusted advisors realize the many benefits of directed trusts and locating trusts in a favorable trust and tax law jurisdiction. We have offices in New Hampshire and South Dakota, two of the best jurisdictions in the country, and administer trusts there for families from throughout the U.S. and the world.

CONTACT US


Concord Trust Company


New Hampshire Office
3 Executive Park Drive, Suite 302
Bedford, NH 03110
tel. 603.219.0264
fax. 603.856.8179


South Dakota Office
211 Founders Park Drive, Suite D
Rapid City, South Dakota 57701
tel. 605.646.0300
fax. 605.496.7334

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