Trusts, Estates and Tax Group

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.

Representative clients of the Group’s trust practice include:  Christiana Bank & Trust Company, Commonwealth Trust Company, Glenmede Trust Company, N.A, J.P. Morgan Trust Company of Delaware, Legacy Trust Company, N.A., Lehman Brothers Trust Company of Delaware, Mellon Trust of Delaware, N.A., NatCity Trust Company of Delaware, Northern Trust Company of Delaware, PNC Bank, Delaware, Rodney Trust Company, The Rockefeller Trust Company, and Tiedemann Trust Company

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

• 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.
• Mellon Trust of Delaware, 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

• Morris Nichols Elects Todd A. Flubacher To Partnership
  Morris, Nichols, Arsht & Tunnell LLP is pleased to announce that Todd A. Flubacher has been elected to the partnership effective January 1, 2008.
• Eighteen Morris Nichols Attorneys Recognized In Best Lawyers In America 2008
  According to Best Lawyers, Morris Nichols had the highest number of attorneys named in Delaware in the practice areas of commercial litigation (5) and corporate law (10).

Newsletters

• Developments In DE Trusts, Estates & Tax Law

Publications

• Todd A. Flubacher, Thomas R. Pulsifer, Dynasty Trusts Thompson/RIA, 2007
• Todd A. Flubacher, Thomas R. Pulsifer, 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)
• Thomas R. Pulsifer and Todd A. Flubacher, 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)
• Thomas R. Pulsifer, Delaware Dynasty Trusts: Bigger and Better Than Ever Under EGTRRA Presented at The 34th Annual Delaware Tax Institute, Newark, DE (Nov. 29, 2001)
• Thomas R. Pulsifer, Tax Planning With Delaware Asset Protection Trusts Presented at the 33rd Annual Delaware Tax Institute, Newark, DE (Nov. 29, 2000)
• Delaware Developments Distributed at The Committee on State Taxation Annual State Tax Law Update, Section of Taxation, 1995 Spring Audit Session, Newport Beach, CA (May 1-3, 1995)