N.H.’s Liberalized Laws Lure Trusts in Droves New Hampshire Business Review, April 19, 2013 In the last few years, New Hampshire has become a magnet for trusts and the companies that manage them. This flow of wealth into the state is no accident. A decade-old effort to liberalize the state’s trust laws has made it easier and more convenient for wealthy families to protect their assets from creditors, taxes and the prying eyes of the public. The idea is that New Hampshire could be to trusts what Delaware has been for corporations. Read the full article.
New Hampshire Enhances Its Trust Tax Laws by the New Hampshire Trust Council July 31, 2012 The New Hampshire Trust Council today issued a press release regarding New Hampshire’s legislation repealing the interest and dividends tax as it applied to non grantor trusts. HAMPTON, NH (July 31, 2012) – The New Hampshire legislature has enacted SB 326, which completely eliminates the application of the 5% interest and dividends tax (the “I&D tax”) to “non-grantor” trusts. A non-grantor trust is an irrevocable trust that is treated as a taxpayer separate from its grantor for federal and New Hampshire income tax purposes. Read the full press release.
Rich Passing Up $10 Million Opportunity to Gift Tax-Free Margaret Collins Bloomberg, July 13, 2012 Scott Baker explained that, in much of wealth transfer planning, “the goal is to have the appreciation take place within the trust, or conversely, outside of one’s taxable estate.” The article noted that people are designating trustees in states such as New Hampshire because those states allows perpetual trusts and the trust assets potentially can appreciate forever without triggering federal gift, estate, or generation-skipping transfer taxes. Read the full article.