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Member
 
Group: Forum Members
Last Login: 12/1/2009 12:47:02 PM
Posts: 44,
Visits: 58
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great question that i received by email today:
<
I read your interesting article on Trust Protection in the March 2007 Journal of Accountancy. Since you are a California CPA, you may be able to provide commentary or citations dealing with the possibility that a Florida testamentary trust with Florida trustees and beneficiaries would be subject to California tax if a California resident is named as a trust protector.
My law firm is Propp Lubell & Lapidus, 1500 Broadway, 21st fl., New York, NY 10036. My fax # is 212-687-0056 and my phone number is 212-986-7714. Your reply is greatly appreciated.>>
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i do not know the answer to his question... i do know that california is overly aggressive with its income taxation of beneficiaries- in the situation where no benes or trustees are california resident, i am interested in the comments of others as to the effect of having a california protector.
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any matters addressed herein. |
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