This article reprint was published in Volume 40 of the Tax Management Estates, Gifts and Trusts Journal and provides an overview of the federal tax laws known as the Delaware Tax Trap, including: A review of the Trap’s history. How to spring and not to spring the Trap, and when to spring and not to
Richard W. Nenno, Esquire, is a Senior Managing Director and Trust Counsel in Wealth Advisory Services at Wilmington Trust Company, Wilmington, Delaware. Dick has nearly 40 years of estate planning experience and is admitted to the practice of law in Delaware and Pennsylvania. He is a Fellow of the American College of Trust and Estate Counsel, a Fellow of the American Bar Foundation, an observer on the Uniform Law Commission committee that is drafting a Uniform Divided Trusteeship Act, a member of the Bloomberg BNA Estates, Gifts, and Trusts Advisory Board, a Distinguished Accredited Estate Planner, and a Registered Trust and Estate Practitioner. Prior to joining Wilmington Trust Company in 1982, he was an associate in the Estates Department of the Philadelphia law firm of Ballard, Spahr, Andrews & Ingersoll.
Dick is a cum laude graduate of Princeton University with an A.B. degree from the Woodrow Wilson School of Public and International Affairs. He earned his J.D. degree from Harvard Law School.
Dick is recognized as a national speaker and published authority on estate planning issues. He has presented at the Heckerling Institute on Estate Planning, the ALI-ABA Planning Techniques for Large Estates Conference, the IBA/ABA International Wealth Transfer Practice Conference, the Notre Dame Tax and Estate Planning Institute, the AICPA Advanced Estate Planning Conference, the NYU Institute on Federal Taxation, the Southern California Tax and Estate Planning Forum, and the Practising Law Institute Estate Planning Institute. He is a member of the American Bar Association, Section of Real Property, Trust & Estate Law (Member of Council) and Section of Taxation; Delaware State Bar Association (Past Chair: Estates and Trusts Section); Estate Planning Council of Delaware, Inc. (Past President); Philadelphia Bar Association.