About the Author

Richard W. Nenno

Senior Trust Counsel and Managing Director

Richard W. Nenno, Esquire, is a senior trust counsel and managing director in Wealth Management at Wilmington Trust Company, Wilmington, Delaware. Dick has more than 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 member of the Advisory Committee of the Heckerling Institute on Estate Planning, a Fellow of the American Bar Foundation, a member of the Bloomberg BNA Estates, Gifts, and Trusts Advisory Board, and a Distinguished Accredited Estate Planner. 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 and 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 JD 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, ACTEC national meetings, the Hawaii Tax Institute, the Notre Dame Tax and Estate Planning Institute, the AICPA Advanced Estate Planning Conference, the NYU Institute on Federal Taxation, and The Tax & Estate Planning Forum (formerly the Southern California Tax & Estate Planning Forum). He is a member of the American Bar Association, Section of Real Property, Trust & Estate Law (former 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.

Dick is the author or co-author of numerous publications, including The Uniform Voidable Transactions Act: Why Transfers to Self-Settled Spendthrift Trusts by Settlors in Non-APT States Are Not Voidable Transfers Per Se, 42 Tax Mgmt. Est., Gifts & Tr. J. 173 (July 13, 2017); Delaware Trusts 2017; Reprise! The State Taxation of Trust Income Five Years Later, 51 Heckerling Inst. on Est. Plan. ¶ 1500 (2017); A Practitioner-Friendly Guide to the Delaware Asset-Protection Trust, 30 Prob. & Prop. 53 (Jan./Feb. 2016); Good Directions Needed When Using Directed Trusts, 42 Est. Plan. 12 (Dec. 2015); Planning for New York Trusts to Escape State Income Tax, 42 Est. Plan. 12 (Oct. 2015); Getting a Stepped-Up Income-Tax Basis and More by Springing—or Not Springing—The Delaware Tax Trap the Old-Fashioned Way, 40 Tax Mgmt. Est., Gifts & Tr. J. 215 (Sept. 10, 2015); There’s No Place Like Home, But Where’s Home? The Role of “Residence” and “Domicile” in State Income and Transfer Tax Planning, 48 Heckerling Inst. on Est. Plan. ¶ 400 (2014); 869 T.M., State Income Taxation of Trusts (2013); A Comparison of the Leading Trust Jurisdictions, 37 Tax Mgmt. Est., Gifts & Tr. J. 233 (July 12, 2012); 867 T.M., Choosing a Domestic Jurisdiction for a Long-Term Trust (2010); 868 T.M., Domestic Asset Protection Trusts (2010).


By the Author

Forestalling Forties Follies

Richard W. Nenno |
Wealth Planning
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Beware of pre-October 22, 1942 general powers of appointment.Are assets subject to a general power of appointment (GPOA) includible in the powerholder’s estate? Generally, yes.However, for trusts established before October 22, 1942, there’s an exception in which the assets subject to the GPOA aren’t necessarily includible in the estate of the powerholder.Practitioners should be aware of this as these trusts wind down.Co-authored with Emily B.

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Opportunities for Saving State Income Taxes on Trusts Expanded with Kaestner Trust Decision

Richard W. Nenno |
Wealth Planning
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U.S. Supreme Court holds presence of resident discretionary beneficiaries does not justify North Carolina income taxation of nonresident trustee in Kaestner Trust. When determining whether a trustee of a nongrantor trust must pay a particular state’s income tax on retained ordinary income and capital gains, practitioners should resist the impulse to consult the governing-law clause in the Will or trust instrument.

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Minimizing or Eliminating State Income Taxes on Trusts

Richard W. Nenno |
Wealth Planning
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An important four-part series that discusses a host of issues involving state income taxes on trusts. Part One provides an overview of the various approaches to taxation of trust income, then reviews the various constitutional restrictions, as reflected in numerous federal and state cases.Part Two further examines these aspects, beginning with a discussion of the seminal U.S. Supreme Court case of Quill Corp. v.

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