The Kimberley Rice Kaestner 1992 Family Trust v. North Carolina Dep't of Revenue

2015 NCBC 36
CourtNorth Carolina Business Court
DecidedApril 23, 2015
Docket12-CVS-8740
StatusPublished

This text of 2015 NCBC 36 (The Kimberley Rice Kaestner 1992 Family Trust v. North Carolina Dep't of Revenue) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
The Kimberley Rice Kaestner 1992 Family Trust v. North Carolina Dep't of Revenue, 2015 NCBC 36 (N.C. Super. Ct. 2015).

Opinion

The Kimberley Rice Kaestner 1992 Family Trust v. North Carolina Dep’t of Revenue, 2015 NCBC 36.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION COUNTY OF WAKE 12 CVS 8740

THE KIMBERLEY RICE KAESTNER 1992 ) FAMILY TRUST, ) Plaintiff ) ) v. ) OPINION AND ORDER ON ) MOTIONS FOR SUMMARY ) JUDGMENT NORTH CAROLINA DEPARTMENT OF ) REVENUE, ) Defendant )

THIS CAUSE, designated a mandatory complex business case by Order of the Chief

Justice of the North Carolina Supreme Court, pursuant to N.C. Gen. Stat. § 7A-45.4(b), and

assigned to the undersigned Special Superior Court Judge for Complex Business Cases,

comes before the Court, pursuant to Rule 56 of the North Carolina Rules of Civil Procedure

("Rule(s)"), upon Plaintiff The Kimberley Rice Kaestner 1992 Family Trust's ("Plaintiff" or

"Trust") Motion for Summary Judgment ("Plaintiff's Motion") and Defendant North Carolina

Department of Revenue's ("Defendant") Motion for Summary Judgment ("Defendant's

Motion") (together with Plaintiff's Motion, "Motions"). On February 24, 2015, the Court held

a hearing on the Motions.

THE COURT, after reviewing the Motions, briefs in support of and in opposition to

the Motions, arguments of counsel, and the evidence and other appropriate matters of record,

CONCLUDES that Plaintiff's Motion should be GRANTED and Defendant's Motion should

be DENIED for the reasons stated herein.

Moore & Van Allen PLLC by Thomas D. Myrick, Esq., Neil T. Bloomfield, Esq., and Kara N. Bitar, Esq. for Plaintiff The Kimberley Rice Kaestner 1992 Family Trust.

North Carolina Department of Justice by Peggy S. Vincent, Esq. for Defendant North Carolina Department of Revenue. McGuire, Judge.

Procedural History

1. Plaintiff filed this action on June 30, 2012, seeking a determination that, as it

was applied to Plaintiff, North Carolina General Statute § 105-160.2 (hereinafter, references

to North Carolina General Statutes will be to "G.S.") violates the Due Process Clause and the

Commerce Clause of the United States Constitution and Section 19 of the North Carolina

Constitution. Plaintiff seeks a refund of all taxes, penalties, and interest paid by it pursuant

to G.S. § 105.160.2 for the tax years 2005 through 2008. In its Complaint, Plaintiff also sought

to enjoin Defendant from enforcing any assessments issued pursuant to G.S. § 105-160.2 and

from issuing future assessments against Plaintiff based on the same provision.

2. On February 11, 2013, the Court granted, in part, Defendant's Motion to

Dismiss pursuant to Rule 12(b)(6). In its Order on Motion to Dismiss, the Court dismissed

Plaintiff's claim for injunctive relief, but denied the Motion to Dismiss as to the constitutional

challenges to the statute.

3. On July 2, 2014, Plaintiff filed its Motion for Summary Judgment. On

September 2, 2014, Defendant filed its Motion for Summary Judgment. Both Motions have

been fully briefed and, on February 24, 2015, the Court held a hearing on both Motions.

4. Both Motions seek summary judgment in the parties' respective favors on the

constitutionality of G.S. § 105-160.2. Therefore, for the purpose of this Opinion and Order,

the Court will address the Motions together.

Factual Background

5. A court does not make findings of fact in ruling upon a motion for summary

judgment. However, the court may summarize material facts that do not appear to be at issue

and which justify the judgment. Hyde Ins. Agency, Inc. v. Dixie Leasing Corp., 26 N.C. App. 138, 142 (1975). There is very little dispute as to any of the facts in this action, and the

dispositive facts are undisputed.

6. In 1992, the Joseph Lee Rice, III Family 1992 Trust ("Family Trust") was

created for the benefit of the children of Joseph Lee Rice, III ("Settlor") under a trust

agreement between Settlor and the initial trustee, William B. Matteson.1 In 2005, Matteson

resigned as trustee of the Family Trust, and David Bernstein ("Bernstein"), a Connecticut

resident and domiciliary, was appointed trustee.2 Bernstein was the trustee of the Family

Trust at all times relevant to this action.

7. The Family Trust was created in New York and is governed by New York Law.3

At the time the Family Trust was created, Settlor and the initial trustee were residents and

domiciliaries of New York.4 At the time of its creation, no primary or contingent beneficiary

was a resident or domiciliary of North Carolina.5 In 1997, Kimberley Rice Kaestner

("Kaestner"), a daughter of the Settlor and a primary beneficiary of the Family Trust,

relocated to North Carolina.6

8. On December 30, 2002, by operation of the trust agreement, the Family Trust

was divided into separate share trusts for each of the Settlor's three children, including

Kaestner.7 In 2006, Bernstein "physically divided" the share trusts into three trusts.8

Plaintiff is the separate share trust formed for the benefit of Kaestner.9 The current

beneficiaries of Plaintiff are Kaestner and her three children, all of whom were residents and

1 Bernstein Aff. (July 2, 2014) ¶ 3. 2 Id. ¶ 13. 3 Id. ¶ 4. 4 Id. ¶ 5. 5 Id. 6 Id. ¶¶ 7-8. 7 Id. ¶ 7. 8 Bernstein Dep. 6. 9 Bernstein Aff. ¶ 7. domiciliaries of North Carolina in the tax years at issue.10 The contingent remainder

beneficiaries of Plaintiff are the Settlor's remaining children, the Settlor's spouse, and the

Settlor's sister, none of whom are, or were, residents or domiciliaries of North Carolina.11

9. The Family Trust, which includes Plaintiff, is an irrevocable inter vivos trust.12

The terms of the Family Trust provided that when Kaestner turned 40 years of age, the

Trustee was to distribute the trust assets to Kaestner. Kaestner turned 40 on June 2, 2009.

Prior to turning 40, Ms. Kaestner had conversations with her father and Bernstein as to

whether she wished to receive the trust assets at her 40th birthday.13 Kaestner determined

she preferred to extend the Trust.14 Accordingly, in 2009, prior to Kaestner's 40th birthday,

Bernstein transferred the assets of the Trust into a new trust, the KER Family Trust. It is

undisputed that the transfer of assets occurred after the tax years at issue in this case, and

the KER Family Trust is not a party to this action.

10. During the tax years at issue in this case, the assets held by Plaintiff consisted

of various financial investments including equities, mutual funds, and investments in

partnerships. The custodian of Plaintiff's assets was located in Boston, Massachusetts. Other

documents related to the Trust, including ownership documents of some assets of Plaintiff,

financial books and records, and legal records, were all kept in New York.15 Additionally, all

tax returns and Trust accountings have been prepared in New York.16

11. Under the terms of the Trust, the beneficiaries, including Kaestner, had no

absolute right to any of the assets or income of the Plaintiff, as the distributions of assets or

10 Id. ¶ 10. 11 Id. ¶ 11. 12 Id. ¶ 12. 13 Kaestner Dep. 8-10. 14 Kaestner Dep. 9. 15 Bernstein Aff. ¶ 14. 16 Id. income are made at the sole discretion of the trustee, Bernstein.17 Furthermore, under the

terms of the Trust, Bernstein had broad authority to manage the property held by the Trust

"as if the absolute owner thereof."18 During the years in question no distributions were made

to a beneficiary in North Carolina.19

12.

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