If a trust is subject to high state income taxes, you may be able to change its residence to a state with low or no income taxes. While the advantages are many, it’s important to review both states’ laws for determining a trust’s “residence” for tax and other purposes. Typically, states make this determination based on factors such as the grantor’s home state, the location of the trust’s assets, the state where the trust is administered and the states where the trust’s beneficiaries reside. Contact us for more details.