News & Library

New Hampshire Enhances Its Trust Tax Laws

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.

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Bloomberg Quotes Baker on Wealth Transfer Planning

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.

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Scott Baker Named Chairman of the New Hampshire Trust Council

Scott Baker Named Chairman of the New Hampshire Trust Council By the New Hampshire Trust Council September 10, 2010 The New Hampshire Trust Council (NHTC) formally announced to today that Scott Baker will act as chairman of the newly formed non-profit organization. The NHTC will provide a forum for addressing mutual interests and strengthening the Granite State’s position as the industry leader nationwide. Mr. Baker, a principal of Hampton-based Perspecta Trust, said, “New Hampshire now has the nation’s most favorable trust laws and tax code for individuals establishing trusts. The Council will serve as a single voice for our industry and promote broadly the state’s advantages as a trust venue. We want our fellow citizens to be aware of these opportunities so they can make fully informed decisions in determining…

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