All in Due Process: North Carolina Dep't of Revenue v. Kimberley Rice Kaestner 1992 Family Trust
Created on November 18, 2019
Earlier this year, the Supreme Court issued a unanimous opinion in the North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, holding that a trust beneficiary's residence alone is not sufficient for a state to tax the trust's undistributed income. Prior to the decision, some speculated that the Court's decision could have far-reaching Due Process implications. However, the Court's decision purported to be limited to the specific facts at issue – raising the question as to how (or if) Kaestner altered the Due Process landscape.
- Perform a detailed analysis of the Kaestner decision, particularly the precedent underlying the Court's unanimous decision and the concurring opinion
- Explore the implications of Kaestner in the realm of trust tax, as well as in the context of Due Process generally
- Discuss how the decision will affect taxpayers prospectively, and consider available planning opportunities
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