What Happens When a Trustee Lives in Another State, and What About Inheritance Tax?

In this brief clip from our Wine & Wills Virtual Happy Hour held on July 21, 2020, Attorney Landon Hodges explains what happens when a trustee, or trust manager, lives in a different state than the grantor, or the person who set up the trust. He also touches on which state's inheritance tax will apply if the trustee lives in a different state than the grantor. Long-Term  Care Planner Kristin Daugherty also speaks about the importance of knowing which state a trust of governed under, for those people that may move into a new state after setting up a trust, since many states have different rules related to trusts.