Trust Me, Geography Matters: Rethinking the Role of Jurisdiction in Modern Estate Planning
The best estate planning conversations often begin with a simple question: "What if we didn't have to do it here?" Trust jurisdiction has evolved from a technical footnote into an increasingly important planning consideration. Nevada, Delaware, South Dakota, and other jurisdictions can offer different approaches to trust duration, directed and divided fiduciary structures, trust protectors, privacy, asset protection, state taxation, and the ongoing administration and modification of irrevocable trusts. But selecting another jurisdiction is not about chasing the newest planning trend or assuming that one state is inherently "better" than another.
This session approaches alternative-jurisdiction planning through curiosity and practical experience. Drawing on the presenter's background as a JD, MBA, and LL.M. in Taxation, and experience in wealth strategy, regional fiduciary leadership, trust-company onboarding in Nevada and Delaware, and working with lawyers, CPAs, and RIA firms across the country, the program will explore the quesstions practitioners may wish to consider when evaluating whether another jurisdiction creates meaningful planning opportunities.
The discussion will also incorporate the presenter's personal perspective as a beneficiary of a Nevada trust structure and as trust protector of a Nevada special needs trust established for a prominent California family.
Rather than advocating for a particular jurisdiction or planning structure, the session is designed to encourage lawyers and CPAs to lean in, ask better questions, identify potential conflicts and trade-offs, and recognize when state lines may deserve a place in the estate planning conversation.
Theme: Modern estate planning rewards curiosity. Sometimes the most valuable question is not "How do we draft this trust?" but "Where should this trust live, who should control what, and why?"
George Pennock, JD, LL.M., is a Senior Tax, Trust, and Estate Specialist at Schwab Wealth Advisory, Inc. As a core member of the Schwab Wealth Advisory team, George works closely with wealth advisors to bring a broad range of advanced estate planning expertise. George can discuss a client's current wealth management situation, help identify estate planning goals, and offer ideas and suggestions to help achieve them. George offers consultations and analysis on topics such as trust and estate planning, risk management and insurance, transfer tax, and postmortem considerations. In addition, George can consult on topics such as charitable gift planning, business formation and succession, and asset protection. This modern approach to wealth management helps clients take ownership of their financial future.
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