Achieving SitusAchieving Situs

Trust situs is a constantly evolving and complex subject. While interested parties to a trust often focus on selecting the best situs for tax savings or creditor protection, parties may overlook the significant role situs plays in a trust’s ongoing administration or its impact on taxation and the application of statutory and case law. 

In any discussion regarding trust situs, defining what’s meant by “situs” is critical. There can be multiple types of situs, including administrative situs, jurisdictional situs, tax situs and locational situs. Though certainly interconnected, establishing administrative situs in a state doesn’t, for example, necessarily mean that the trust’s tax situs or jurisdictional situs has also been established in th...