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…


The Book: New Hampshire Trust Laws

  New Hampshire Trust Laws: Statutes and Commentary (Third 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,…


THL Credit Announces Formation of Investment Joint Venture with Perspecta Trust

BOSTON (December 3, 2014) – THL Credit, Inc. (NASDAQ: TCRD) (“THL Credit”), today announced that it has formed a joint venture with Perspecta Trident LLC (“Perspecta”), an affiliate of Perspecta Trust LLC (“Perspecta Trust”) to create THL Credit Logan JV LLC (“Logan JV”). This joint venture is expected to invest primarily in senior secured first lien loans to middle market companies and other corporate debt investments, consistent with THL Credit’s origination and underwriting strategy. THL Credit and Perspecta have committed to initially provide $120 million and $30 million, respectively, of equity capital to Logan JV. In addition, Logan JV has agreed to terms with a third party to provide credit financing. Logan JV expects to begin funding the portfolio with new investments in December 2014. “We are pleased to partner…


Using Trust Protectors

In the governance of a trust, a trust protector can play a valuable role. A trust protector traditionally supervises a trustee. A trust protector simultaneously may help to ensure that the settlor’s intent or the trust’s purposes are being fulfilled. TRUST PROTECTOR POWERS A trust protector’s role is defined by the terms of the trust. Unlike a trustee, a trust protector does not have any statutory powers. In the traditional model of a trust protector, the trust protector supervises the trustee. In that model, a trust protector functions like a company’s board of directors, and the trustee functions like the company’s management. Accordingly, a trust protector’s powers often include the following powers: Power to remove a trustee Power to appoint a trustee In some instances, a trust protector may have…


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. The new law simplifies, clarifies, and reorganizes the banking, trust company, and family trust laws. The new law eliminates 21 chapters of statutes—which were sometimes potentially confusing and redundant—and replaces them with just five chapters. The new chapters include a chapter devoted to trust companies and a chapter devoted to family trust companies. In contrast to many aspects of prior law which were written in another era and often did…


New Hampshire’s Attractive Landscape for Trusts and Trust Companies

  For wealthy families, New Hampshire is one of most attractive states in which to create and manage their trusts. New Hampshire offers a trust- and business-friendly landscape that combines family trust companies, modern trust laws, and a favorable tax environment. That combination facilitates creative trust design and efficient administration, which can more effectively achieve a family’s wealth planning goals. Modern Trust Laws New Hampshire has a robust set of modern trust laws, which afford settlors broad flexibility and creativity in designing trusts well suited to their specific needs and wishes. Those laws facilitate the more efficient administration of trusts and importantly provide a high level of certainty concerning the rights, duties, and powers of settlors, beneficiaries, trustees, trust advisors, and trust protectors. Two important themes run through New Hampshire’s…