Pete Daoust

Sep 14, 2013 10:48 PM
OK, But I have no intention of becoming a lawyer and open a trust account for some clients :/ Maybe I am missing the point again ? :/


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Chris Evan

Sep 14, 2013 11:52 PM
pete....read weiss'. Its US based, but worth the read IMO


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Pete Daoust

Sep 15, 2013 1:58 AM
domicile n. the place where a person has his/her permanent principal home to which he/she returns or intends to return. This becomes significant in determining in what state a probate of a dead person's estate is filed, what state can assess income or inheritance taxes, where a party can begin divorce proceedings, or whether there is "diversity of citizenship" between two parties which may give federal courts jurisdiction over a lawsuit. Where a person has several "residences" it may be a matter of proof as to which is the state of domicile. A business has its domicile in the state where its headquarters is located.


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Pete Daoust

Sep 15, 2013 1:59 AM
Residence Personal presence at some place of abode. Although the domicile and residence of a person are usually in the same place, and the two terms are frequently used as if they have the same meaning, they are not synonymous. A person can have two places of residence, such as one in the city and one in the country, but only one domicile. Residence means living in a particular locality, but domicile means living in that locality with the intent to make it a fixed and permanent home. Residence merely requires bodily presence as an inhabitant in a given place, whereas domicile requires bodily presence in that place and also an intention to make it one's permanent home. This distinction is relevant for members of the military, who may move frequently during the course of a typical career; college students, whose state of domicile may affect whether they are eligible for scholarships and grants from a state university; and retired individuals, whose domicile will determine where they pay taxes. Domicile determines where a person votes and where a person's driver's license is issued.


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Pete Daoust

Sep 15, 2013 2:01 AM
Wrong fucking thread....sorry :(


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Blake Gardner

Sep 15, 2013 2:07 PM
I havnt read it but seeing as its for lawyers I presume it's all about statutory trusts...not much use To us in the private.


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