Welcome to the U.S.A.: The Rising Popularity of U.S.-Situs Trusts

By Todd M. Beutler and Todd D. Mayo Family Wealth Report from Wealth Briefing, September 8, 2015 Across the globe, there are a number of attractive jurisdictions for trusts. Among them are a handful of U.S. jurisdictions. More and more, wealthy families are including U.S.-situs trusts in their wealth planning structures. Several factors—including investment opportunities, wealth preservation, tax planning, and good laws—are motivating non-U.S. families to use U.S.-situs trusts. Investing in the U.S. Many families are looking to invest in the U.S. Right now, much of the investment activity involves U.S. real estate. The Wall Street Journal, International Business Times, CNN, and other media outlets have recently spotlighted investment by Chinese families, who currently are the largest group of foreign real estate buyers in the U.S. As the Wall Street…

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Decanting Trusts in New Hampshire

New Hampshire has one of the most flexible and versatile decanting statutes in the nation. Through decanting, a trustee can often eliminate impediments to sound investment or trust administration, better protect trust assets for a family’s benefit, resolve ambiguities and potential disputes, and improve administrative efficiencies. In short, decanting offers trustees a way to fix and modernize trusts that are either not operating as the settlor intended, or not operating at peak efficiency. THE PROCESS OF DECANTING The process of decanting in New Hampshire is straightforward. After creating a new trust instrument that accomplishes what the original trust could not, a trustee may appoint some or all of the assets of the original trust into the new trust. The new trust then governs the management and disposition of those trust…

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The Book: New Hampshire Trust Laws

New Hampshire Trust Laws: Statutes and Commentary (Second Edition) New Hampshire’s modern trust laws promote innovative trust design and efficient trust administration. Those laws have made New Hampshire one of the most attractive jurisdictions in which to create and administer trusts. Written by a trust attorney involved in developing those laws, New Hampshire Trust Laws is a practical reference that combines the statutes with commentary and historical background. Praise for New Hampshire Trust Laws: Statutes and Commentary “More than a compilation of state trust statutes, New Hampshire Trust Laws provides historical context, insightful commentary, and a clear and readable discussion of New Hampshire’s evolving fiduciary landscape. The book is an excellent tool for any practitioner who performs trust planning with New Hampshire trusts.” —Joseph P. Toce, Jr., Managing Director, Andersen…

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New Hampshire Streamlines Private Trust Company Rules

New Hampshire Modernizes Its Trust Company and Family Trust Company Laws CONCORD, N.H., July 30, 2015 (GLOBE NEWSWIRE) — On Monday, Governor Maggie Hassan signed into law a bill modernizing and simplifying New Hampshire’s trust company and family trust company laws (also known as private trust companies). The New Hampshire Trust Council (www.nhtrustcouncil.com) supported and helped to write the bill. “By modernizing and simplifying the trust company and family trust company laws, the new law further enhances New Hampshire’s attractiveness on both the national and international stages as a leading trust jurisdiction,” said Todd D. Mayo, president of the New Hampshire Trust Council and a principal and general counsel of Perspecta Trust (www.perspectatrust.com). Mr. Mayo was a member of the working group that drafted the new law. The new law…

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A Brief Timeline of New Hampshire Trust Legislation

Spurred by our principals’ commitment to make New Hampshire the premier situs for trusts and trust companies in the US, Perspecta has been the chief architect of multiple legislative bills to enhance the trust laws of the state. The following timeline explores some of the key bills that have resulted in a framework of trust laws that carefully safeguards the unique balance between settlors, beneficiaries, and trustees. 2002 Session Authorized the conversion of existing trusts to total return unitrusts 2003 Session Repealed the rule against perpetuities 2004 Session Adopted the Uniform Trust Code 2005 Session Made technical changes to the Uniform Trust Code provisions to enhance flexibility 2006 Session Enacted the Trust Modernization and Competitiveness Act, which allows for the formation of family trust companies, expressly recognizes trust advisors and…

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Perspecta Trust Hires Family Office Veteran

HAMPTON, N.H., Jan. 22, 2016 (GLOBE NEWSWIRE) — Perspecta Trust announced today that it has hired R. Angus West as a Senior Wealth Strategist to work in its Hampton, New Hampshire headquarters. Mr. West is a graduate of Harvard College and began his career as an investment analyst at J.P. Morgan. Following his time at J.P. Morgan, Mr. West earned his JD degree at the Harvard Law School, where upon graduation, he joined the Boston-based law firm Ropes and Gray. Leveraging his legal background, and over the past twenty-five years, Mr. West turned to advising high net worth families in the areas of investment management, tax and estate planning. Most recently, Mr. West had been retained by the Cabot-Wellington family office, acting as the organization’s Executive Director and Chief Investment…

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