Richard W. Nenno, Esq., is a Managing Director and Trust Counsel in Wealth Advisory Services at Wilmington Trust Company, Wilmington, Delaware. Mr. Nenno has almost four decades of estate planning experience, is admitted to the practice of law in Delaware and Pennsylvania, and is a Distinguished Accredited Estate Planner. Prior to joining Wilmington Trust in 1982, he was an associate in the Estates Department of the Philadelphia law firm of Ballard, Spahr, Andrews & Ingersoll.
Mr. Nenno is recognized as a national speaker and published authority on estate planning issues. He has spoken at the University of Miami 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, and the Southern California Tax and Estate Planning Forum. He is a member of the Delaware State Bar Association (Past Chair: Estates and Trusts Section); Estate Planning Council of Delaware, Inc. (Past President); American Bar Association, Section of Real Property, Trust & Estate Law, Member of Council and Section of Taxation; Philadelphia Bar Association.
Dick is the author or co-author of “New York State and City Income Taxation of Nongrantor Trusts: Rules and Opportunities,” 37 Tax Mgmt. Est., Gifts & Tr. J. 279 (Sept. 13, 2012); “A Comparison of the Leading Trust Jurisdictions,” 37 Tax Mgmt. Est., Gifts & Tr. J. 233 (July 12, 2012); “Delaware Trusts 2012,” Asset Protection: Domestic & Int'l Law & Tactics Chap. 14A (2012); “Let My Trustees Go!: Planning to Minimize or Avoid State Income Taxes on Trusts,” 46U. Miami Inst. on Est. Plan. ¶ 1500 (2012); 867 T.M., Choosing a Domestic Jurisdiction for a Long-Term Trust (2019); 868 T.M., Domestic Asset Protection Trusts (2010); “Proposed New York Fiduciary Income Tax Changes: Let My Trustees Go!,” 35Tax Mgmt. Est., Gifts & Tr. J. 147 (May 13, 2010); “The Reinstated Delaware Estate Tax,” 34 Tax Mgmt. Est., Gifts & Tr. J. 195 (Sept. 10, 2009); “Terrors of the Deep: Tax Dangers When Exercising Powers Over Trusts — The GST Regulations and the Delaware Tax Trap,” 34 Tax Mgmt. Est., Gifts & Tr. J. 76 (Jan. 8, 2009); “Planning to Minimize or Avoid State Income Tax on Trusts,” 34 ACTEC J. 131 (Winter 2008); “The Trust From Hell: Can It Be Moved to a Celestial Jurisdiction?,” 22 Prob. & Prop. 60 (May/June 2008); “Directed Trusts: Can Directed Trustees Limit Their Liability?,” 21 Prob. & Prop. 45 (Nov./Dec. 2007); “DAPT Lite: A Practitioner-Friendly Guide to the Delaware Asset Protection Trust,” 32 Tax Mgmt. Est., Gifts & Tr. J. 227 (Sept. 13, 2007); “Choosing and Rechoosing the Jurisdiction for a Trust,” 40 U. Miami Inst. on Est. Plan. ¶ 400 (2006); “Delaware Asset Protection Trusts Should Survive Bankruptcy,” 33 Est. Plan. 31 (Jan. 2006); “Delaware Asset Protection Trusts Create Obstacles for Creditors,” 32 Est. Plan. 3 (December 2005).
J.D., Harvard Law School
A.B., Princeton University - Woodrow Wilson School of Public and International Affairs
Bloomberg Tax Management Portfolios
This Portfolio explores two important developments in trust law that emerged late in the 20th century.
Managing state income tax liability is a critical aspect of planning and administering a trust. If done properly, the planner may provide substantial benefits to the beneficiaries.
This Portfolio discusses various aspects of domestic asset protection trusts (APTs), including the reasons for and against recognizing such trusts, the benefits of such trusts, and the potential application of the fraudulent transfer rules.
This Portfolio explores two important developments in trust law that emerged late in the 20th century. The first was the recognition of the tax and nontax benefits of creating long-term or dynasty trusts.