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Entities Holding Trustee Positions

For modern trusts, fiduciary roles may be held by various different trustees or entities. When is that a good idea?

In this episode, Marty and Jonathan address the concept of using entities to hold various trust-related positions.

Some of the issues they discuss include:

  1. In some instances, it may be advantageous to have an entity, such as an LLC, hold or house various fiduciary and non-fiduciary positions for modern complex trusts.
  2. South Dakota has a statute permitting special purpose entities, but this can also be done under Delaware, Alaska and other state laws.
  3. What and when might you wish to do this?
  4. Might having a New York trust adviser, for example, perform the role as a manager of an LLC based in Alaska for an Alaskan trust make it more difficult for New York to exert jurisdiction over that trust?

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