Trust “Situs” and Why It Matters
Trust “Situs” can refer to multiple things. There is tax “situs.” There is administrative “situs.” There is governing law. There is the residence of the beneficiaries. There is the residence of the trustees. This presentation will address the different things someone may mean when referring to a trust’s “situs” and how and why they all matter. We will discuss California’s unique system for the taxation of the trusts, and the benefits and burdens of seeking “situs” in other jurisdictions. We will also discuss how certain considerations may become even more relevant under the new tax laws.
Note: This program qualifies for 1-hour MCLE in Legal Ethics for Attorneys. This program also qualifies for 1-hour of continuing education credit for CPA, Professional Fiduciary and Trust Officers, and qualifies for 1-hour of continuing education credit with the California Department of Insurance (Life Insurance licensed); Course Number: Pending. It is also approved for 1-hour CE with the Certified Financial Planners Board of Standards, Program ID: 248324.
Bryan D. Kirk, Managing Director and Trust Counsel, is a senior trusts and estates advisor for Fiduciary Trust, where he provides guidance on all aspects of estate planning and trust and estate administration. Mr. Kirk has broad experience in multi-generational asset management and transfer planning, including estate, gift, generation-skipping transfer and income tax planning, charitable giving, philanthropy, real property matters and complex assets, such as private equity and debt. He also serves as Chief Fiduciary Officer of Fiduciary Trust International of California. Before joining Fiduciary Trust, he was a partner with Botto Law Group LLP in San Francisco where he worked for nine years. Mr. Kirk earned his law degree from University of California, Berkeley, and graduated cum laude from Claremont McKenna College with a Bachelor of Arts degree in Literature and Government. Mr. Kirk has been a frequent lecturer at various conferences.
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