Taxation of Resident Trusts, Jurisdictional Planning after Kaestner

Late last week, the United States Supreme Court issued its decision in North Carolina Department of Revenue vs. Kimberly Rice Kaestner 1992 Family Trust (“Kaestner”). The Supreme Court ruled that the Due Process Clause prevents a state from taxing the income of a trust in situations where the sole connection of the trust to the state is via a contingent beneficiary maintaining a presence in the state.

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Donor Advised Funds bring tax efficiency, flexibility to year-end giving

Donor Advised Funds (DAFs) are charitable gift vehicles, sponsored by public charities that accept tax-deductible donations and invest them in a donor account until the donor requests that grants be made from the account to other IRS qualified charities.

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An Update From Washington: Fall Tax Reform

Tax reform is front and center in Washington. Tax writers are expected to release details of corporate and individual tax plans in a few weeks and start House and Senate debate.

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Six life events that affect your financial plan – and how to prepare for them

While you may need to quickly adjust your financial “sails” occasionally to respond to unexpected life changes, there are many other events that you can prepare for in advance to make future course corrections much easier. Here’s a review of six major life events that can alter your financial plans – plus some actions you can take now to make sure you’re prepared for the future.

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Active vs Passive Management

Certainly, the flow of funds into passive investment vehicles is indisputable. Investors have added nearly $1.3 trillion to passive funds over the past three years, while more than a quarter trillion dollars has exited actively-managed funds over the same time period. Investors clearly have accepted the narrative that passive investment vehicles, due to their low cost structures, outperform actively-managed investment vehicles, on average.

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