Relocating for Reimbursement

House Bill Number 334, which passed the 150th Delaware General Assembly on June 16, 2020, is currently pending approval by Governor John Carney. This legislation marks another milestone in the development of Delaware trust law and signifies the state’s continued commitment to improving Title 12 of the Delaware Code (the “Delaware Trust Code”). While focus will soon shift to this new legislation and articles discussing its impact are almost sure to follow, it is important for those of us working in the trust, estate and wealth planning fields in Delaware to not lose sight of one of the key features of last year’s legislation. Specifically, the addition of an income tax reimbursement statute to the Delaware Trust Code, which is modeled after the guidance set forth by the Internal Revenue Service (“IRS”) in Rev. Rul. 2004-64.


Mark Gordon, Associate
Gordon, Fournaris & Mammarella, P.A.
Robert V.A. Harra III
Gordon, Fournaris & Mammarella, P.A.