Trusts, Estates and Tax

Trusts

Delaware is widely regarded as one of the most advantageous jurisdictions in which to settle trusts.  Accordingly, attorneys, financial planners and wealthy families throughout the world regularly settle large trusts in Delaware.  The Trusts, Estates & Tax Group acts as Delaware trust law counsel to numerous federal and Delaware banks and trust companies.  The Group also regularly advises attorneys, wealth planners and individual clients throughout the world on issues pertaining to Delaware trust law, drafting trust agreements, and tax and asset protection planning.  The Group routinely petitions the Delaware Court of Chancery regarding Delaware trust matters.

Estate Planning

The Trusts, Estates & Tax Group advises wealthy individuals and families on all matters of estate, gift and generation skipping transfer tax issues and prepares estate plans utilizing complex gift and estate planning techniques.

Tax

The Trusts, Estates & Tax Group advises individuals and businesses concerning all aspects of federal and Delaware state income tax law as well as matters involving state and local franchise and gross receipts taxes.  Such matters include planning and transaction structuring as well as contest representation before the Internal Revenue Service, Delaware state and local taxing authorities and appropriate courts.  The Group also advises large corporate clients on the creation and operation of Delaware holding companies designed to minimize state income taxation incurred with respect to intangible assets such as trademarks, patents and investment property.  In addition, the Group represents tax-exempt organizations in connection with their formation, qualification for tax-exempt status and ongoing business operations.  The Group also counsels a wide variety of clients on employee benefits matters, including compliance with ERISA and other compensation planning and employment related matters. 

Representative Matters

• BNY Mellon Trust of Delaware
• Christiana Bank & Trust Company
• Commonwealth Trust Company
• J.P. Morgan Trust Company of Delaware
• Lehman Brothers Trust Company of Delaware
• Legacy Trust Company, N.A.
• NatCity Trust Company of Delaware
• Northern Trust Company of Delaware
• PNC Bank, Delaware
• The Rockefeller Trust Company
• Rodney Trust Company
• Tiedemann Trust Company

News

• Twenty-One Morris Nichols' Practice Areas Named in U.S. News/Best Lawyers 2011-2012 Rankings of Best Law Firms
  Morris, Nichols, Arsht & Tunnell LLP has been recognized in twenty-one practice areas in the U.S. News & World Report/Best Lawyers 2011 - 2012 "Best Law Firms" rankings.
• Morris Nichols Releases Delaware Trust Companion for iPad and iPhone – Free to download from the App Store
  Morris Nichols is pleased to announce that its newest application, Morris Nichols' Delaware Trust Companion for iPad and iPhone, is now available as a free download from the App Store.
• Morris Nichols Releases iPad App to Help Legal Professionals Navigate Delaware Law and Practice
  Morris Nichols is pleased to announce that its new iPad application, Morris Nichols’ Delaware Bankruptcy Companion for iPad, is available as a free download from the App Store. It is the first in a series of Delaware practice-specific apps produced by Morris Nichols tailored for legal professionals. Morris Nichols becomes the first U.S. law firm to release a legal practice and procedures app for the iPad.
• 25 Morris Nichols Attorneys Named to The Best Lawyers in America 2012
  25 Morris Nichols attorneys have been named to The Best Lawyers in America 2012 in twenty practice areas.
• 19 Morris Nichols Attorneys Selected for Inclusion in Super Lawyers – Delaware Edition 2011
  Super Lawyers® magazine has named 19 Morris Nichols attorneys as top legal counsel in Delaware for 2011.
• Todd Flubacher Featured Author in ESTATE PLANNING Magazine: Put Decanting to Work to Give Breath to Trust Purpose
  Todd Flubacher authored Put Decanting to Work to Give Breath to Trust Purpose featured in the January 2011 edition of ESTATE PLANNING magazine.
• Todd Flubacher Featured Author in TRUSTS & ESTATES: The Trustee’s Role in Directed Trusts
  Todd Flubacher authored The Trustee’s Role in Directed Trusts featured in the December 2010 edition of TRUSTS & ESTATES magazine.
• Todd Flubacher Presents at 2010 Delaware Trust Conference
  Todd Flubacher served on the panel “New in Port” at the 2010 Delaware Trust Conference
• Ten Morris Nichols Practice Areas Named in U.S. News/Best Lawyers 2010 Rankings of Best Law Firms
  Morris Nichols has been named in the inaugural U.S. News & World Report/Best Lawyers 2010 “Best Law Firms” rankings.
• Todd Flubacher, Randolph Herndon, Jr. Featured Authors in Estate Planning: Delaware Asset Protection Trusts and Creditors’ Rights
  Todd Flubacher and Randy Herndon authored Delaware Asset Protection Trusts and Creditors’ Rights featured in the September 2010 edition of Estate Planning magazine.
• 26 Morris Nichols Attorneys Named to The Best Lawyers in America 2011; Firm is Top-Listed in Eight Categories in Delaware
  26 Morris Nichols attorneys have been recognized in The Best Lawyers in America 2011. The firm was also “Top-Listed in Delaware” in eight practice areas.
• Chambers USA 2010 Names Twenty Morris Nichols Attorneys as Leading Lawyers
  The 2010 edition of Chambers USA: America’s Leading Lawyers for Business today ranked twenty Morris Nichols attorneys and four practice groups as among the best in Delaware.
• Thomas Pulsifer Presents at Chicago Estate Planning Council: Taking Advantage of the 'Delaware Advantage': Why and How to Settle Trusts in Delaware and Move Trusts to Delaware
  Thomas Pulsifer presented at the May 2010 meeting of the Chicago Estate Planning Council.
• 18 Morris Nichols Attorneys Selected for Inclusion in Super Lawyers – Delaware Edition 2010
  Super Lawyers® magazine has named 18 Morris Nichols attorneys as top legal counsel in Delaware for 2010.
• Todd Flubacher Elected to American College of Trust and Estate Counsel
  Todd Flubacher has been elected a Fellow of the American College of Trust and Estate Counsel.
• Todd Flubacher Featured Author in Delaware Banker: Planning to Avoid Pitfalls – Asset Protection Trusts Thirteen Years After Enactment
  Todd Flubacher authored Planning to Avoid Pitfalls – Asset Protection Trusts Thirteen Years After Enactment featured in the Winter 2010 edition of Delaware Banker magazine.
• Thomas Pulsifer and Todd Flubacher Present at 2009 Delaware Trust Conference
  Thomas Pulsifer and Todd Flubacher were featured speakers on separate panels during the 2009 Delaware Trust Conference.
• 26 Morris Nichols Attorneys Named to The Best Lawyers in America 2010: Firm Earns Seven #1 Rankings in Delaware
  The Best Lawyers in America 2010 has ranked Morris Nichols #1 in Delaware in seven practice areas and has named 26 Morris Nichols attorneys to its The Best Lawyers in America 2010 list.
• Thomas Pulsifer Featured Author in June 2009 Estate Planning Magazine: The Delaware Personal Trust Advantage
  Thomas Pulsifer is a co-author of The Delaware Personal Trust Advantage is Useful in Many Scenarios featured in the June 2009 edition of Estate Planning magazine.
• Todd Flubacher, Kimberly Gill Speak at 2009 Delaware Tax Institute
  Todd Flubacher and Kimberly Gill were speakers at the 2009 Delaware Tax Institute.

Publications

• Todd A. Flubacher, Put Decanting to Work to Give Breath to Trust Purpose Estate Planning Magazine (January 2011)
• Todd A. Flubacher, The Trustee's Role in Directed Trusts TRUSTS & ESTATES magazine (December 2010)
• Todd A. Flubacher, Delaware Asset Protection Trusts and Creditors' Rights Estate Planning Magazine (September 2010)
• Todd A. Flubacher, Planning to Avoid Pitfalls - Asset Protection Trusts Thirteen Years After Enactment Delaware Banker (Winter 2010)
• Todd A. Flubacher, Thomas R. Pulsifer, Dynasty Trusts Thompson/RIA, 2007
• Speakers: Thomas R. Pulsifer and Todd A. Flubacher, The Pursuit of Innovative Trust Strategies in an Uncertain Estate Planning Environment A Christiana Bank & Trust Roundtable Moderated by Worth Magazine (Summer 2007).
• Thomas R. Pulsifer, Income Tax Consequences of Trust Situs Selection Presented at The American College of Trusts & Estates Counsel Fall Meeting, 2006 , Providence, RI (October 14, 2006)
• Todd A. Flubacher, Thomas R. Pulsifer, Eliminate A Trust's State Income Tax Trusts & Estates (May 2006)
• Thomas R. Pulsifer, Recent Developments In The Federal Estate, Gift and Generation-Skipping Transfer Tax Areas (Case Law Developments) Presented at The 38th Annual Delaware Tax Institute, Newark, DE (November 30, 2005)
• Thomas R. Pulsifer, Recent Developments In Delaware Trust Law Presented at J.P. Morgan Trust Company of Delaware Seminar, New York, NY (Nov. 16, 2005)
• Thomas R. Pulsifer, Delaware Asset Protection Trusts Presented at Estate Planning Council of Delaware Seminar, Wilmington, DE (Nov. 15, 2005)
• Delaware State and Local Tax (SALT) Developments Committee on State Taxation (COST), Semi-Annual, www.statetax.org
• Todd A. Flubacher, Thomas R. Pulsifer, Minimizing Income Taxation of Trust Income: The Delaware Advantage 108 Probate and Trust Law Section Newsletter 8 (Philadelphia Bar Association Probate and Trust Law Section, Winter 2003-04)