Avoiding State Income Tax with Discretionary Trusts
Discretionary trusts just received another endorsement. Last Friday The Nine, otherwise known as the United States Supreme Court, gave discretionary trusts a big boost with the Court’s ruling in North Carolina Dept. of Revenue vs. Kimberly Rice Kaestner 1992 Family Trust (“Kaestner”). In Kaestner, the Court, in a unanimous decision, held a state, in this…