The Cayman Islands provides for a unique form of statutory trust known as a “STAR Trust”. “STAR” is an acronym for the Special Trusts Alternative Regime, now contained in Part VIII of the Trusts Act (as revised) (the "STAR...more
Background on Purpose Trusts - The private discretionary trust is the most widely known form of trust where trustees are given a fund of money to manage and distribute amongst certain named or described beneficiaries who...more
October 2022 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October applicable federal rate ("AFR") for use with a sale to a defective grantor...more
Generally, trusts must have one or more human beneficiaries, but there’s an exception for certain “purpose” trusts. One popular type of purpose trust is a charitable trust. But don’t overlook the noncharitable purpose (NCP)...more
In This Issue: - The net investment income tax and your estate plan: How one affects the other - Use a noncharitable purpose trust to achieve a variety of goals - Addressing adopted children or stepchildren in your...more