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Minimize Creditor Challenges to Self-Settled Spendthrift TrustsMinimize Creditor Challenges to Self-Settled Spendthrift Trusts

Certain structures may work better than others.

25 Min Read
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In May, we published an article in this journal entitled “Alaska Supreme Court Invalidates Exclusive Jurisdiction Provision,”1 concerning the Alaska Supreme Court’s decision in Toni 1 Trust v. Wacker (Toni 1 Trust).That decision held that Section 34.40.110(k) of the Alaska Trust Act, which purported to grant Alaska courts exclusive jurisdiction over fraudulent transfer actions against Alaska self-settled spendthrift trusts, was an ineffective exercise of the Alaska legislature’s authority and couldn’t control the jurisdictional question that it sought to control. The Toni 1 Trust decision confirmed an earlier decision of the Montana courts to the effect that a transfer of Montana real estate to an Alaska self-settled spendthrift trust...

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About the Authors

Gideon Rothschild

Partner, Moses & Singer LLP

 

GIDEON ROTHSCHILD is a partner with the New York City law firm of MOSES & SINGER LLP, where he co-chairs the Trusts & Estates and Wealth Preservation Group.  He focuses his practice in the areas of domestic and international estate planning techniques for high net worth clients and is a nationally recognized authority on wealth preservation and foreign trusts. 

Mr. Rothschild is the Vice-chair of the Real Property Trust & Estate Law Section of the American Bar Association, a Fellow of the American College of Trust and Estate Counsel and Academician of The International Academy of Trust and Estate Lawyers.  He is a member of the Advisory Boards of BNA’s Tax Management and Trusts and Estates, the Immediate Past Chair of the New York Chapter of the Society of Trust and Estate Practitioners (STEP), and a member of the New York State Bar Association. 

He served as an Adjunct Professor at the University of Miami Law School Graduate Program and has lectured frequently to professional groups including the University of Miami’s Philip Heckerling Institute, the New York University Federal Tax Institute, the New York State Bar Association, the American Bar Association, and the American Institute of Certified Public Accountants.  

Mr. Rothschild is the co-author of the BNA Tax Management portfolio on Asset Protection Planning and has authored numerous articles for publications including  Trusts and EstatesandEstate Planning.  Mr. Rothschild is a recipient of the prestigious Distinguished Estate Planner award from the National Association of Estate Planners and Councils and is listed in Chambers USA, Best Lawyers in America, Top 100 New York Superlawyers and Worth’s Top 100 Lawyers.  Mr. Rothschild is also licensed as a Certified Public Accountant.

Daniel S. Rubin

Partner, Farrell Fritz, P.C.

Daniel S. Rubin is a partner in the New York law firm of Farrell Fritz, P.C.