Professors' Corner - Purpose Trusts: Plague, Panacea, or Just Plain Puzzling?!
Tuesday, March 8, 2022
- Tom E. Simmons, University of South Dakota Law School
- Beverly Moran, Vanderbilt University Law School
- Paul Becket, Oxford Brookes University
- Bradley Myers, University of North Dakota School of Law
Noncharitable Purpose Trusts – originally exclusively offshore creatures – have moved stateside. From pet trusts to trusts benefitting corporate interests, purpose trusts create unique drafting challenges as well as potentially troubling opportunities for misuse. Navigating the tax consequences of purpose trusts will also be explored.