The Case of the Disappearing Trust
Unknown to many Floridians, Florida enacted the Community Property Trust Act which went into effect on July 1, 2021, and established the ability to convert non-community property into community property. The community...more
On June 29, 2021, Florida enacted the Florida Uniform Directed Trust Act ("FUDTA") and the Community Property Trust Act ("CPTA"). Florida will now have a more robust law whereby “trust directors” can be granted powers in a...more
In a “legitimate” Trust, the ownership and control of the Trust assets and income is “separate” from a Settlor’s control and benefit. IRS has been reporting that Trusts are used for abusive tax schemes to hide true ownership...more