Expert tells Ways & Means committee trusts can be used to sidestep Vermont income and estate taxes; committee urged to study fix Professor Brian Galli told the House Ways and Means Committee that a drafting gap in Vermont’s resident‑trust rules could let wealthy residents shift income and capital gains to out‑of‑state trusts and avoid Vermont income and estate taxes; he recommended a narrow statutory change and suggested the Department of Taxes study the scale of any loss.

Wealthy Vermonters might be dodging state income and estate taxes by using savvy trust strategies, leaving lawmakers scrambling for a solution.

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#VT #CivicAccountability #CitizenPortal #VermontTrusts #TaxReform #WealthDisparity

New federal exemptions, portability and common trust techniques explained at Ways & Means briefing Mark Langan told Ways & Means members that trusts are widely used to avoid probate and described grantor-trust rules, the evolution of federal estate exemptions, portability, and how donor-advised funds changed charitable giving.

Mark Langan unveiled the secrets of trusts and estate planning, revealing how new federal exemptions and donor-advised funds are reshaping the landscape of charitable giving.

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#VT #CharitableGiving #CitizenPortal #VermontTrusts #TaxReform #EstatePlanning

Presenter tells Ways & Means recent U.S. Supreme Court rulings limit Vermont’s ability to tax long‑standing "resident" trusts At a Ways & Means briefing, Mark Langan told lawmakers Vermont can tax trust income only when the trust retains sufficient "nexus" to the state — a rule courts reinforced in recent U.S. Supreme Court guidance — and urged care before asserting long-term claims on out-of-state trusts.

Vermont's ability to tax trusts is facing scrutiny as recent Supreme Court rulings tighten the definition of "nexus" — could your trust be next?

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#VT #CitizenPortal #VermontTrusts #TrustManagement #LegalNexus #TaxationLaw

Senate passes bill protecting assets in irrevocable trusts from creditor claims Senate approves legislation restricting creditor access to irrevocable trust assets.

Vermont's Senate just advanced a groundbreaking bill that could reshape the future of estate planning by protecting irrevocable trusts from creditor claims!

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#VT #CitizenPortal #LegalReform #EstatePlanning #VermontTrusts #FinancialProtection