There’s big news in the tax and trusts and estates world. The U.S. Supreme Court released its opinion in the North Carolina Dept. of Revenue v. Kimberley Rice Kaestner 1992 Family Trust case. The Court ruled in favor of the taxpayer, holding that the presence of in-state beneficiaries alone does not empower a State to tax undistributed trust income where the beneficiaries have no right to demand that income and are uncertain to receive it. The Court’s full opinion can be found here: North Carolina Dept. of Revenue v. Kimberley Rice Kaestner 1992 Family Trust