Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can a New York resident trust be changed so that no New York Fiduciary Form IT-205 would be required?

April 26, 2017changed Fiduciary form new york resident Trust

0

0 Posted

Can a New York resident trust be changed so that no New York Fiduciary Form IT-205 would be required?

1 Answer

0

0 Posted

Yes. The New York resident trustee(s) would have to resign as trustee(s) and nonresident trustee(s) would have to be appointed. Also, tangible property in New York would have to be removed, and any real property in the state, divested.