CPE: 1 hours
Advanced prep: None
Who should attend: CPAs and lawyers.
Foreign trusts are appealing for holding and transferring wealth between generations. For U.S. taxpayers, however, they carry a heavy tax burden. We'll review situations where foreign trusts might be used: inbound transfers of wealth and outbound transfers (such as asset protection trusts). Tax considerations are the focus of this course, but practical issues will be addressed.
Determine when a foreign trust is useful in achieving a client's objectives, and how to structure and fund the trust to achieve those objectives.
- Grantor trusts
- Nongrantor trusts
- Estate, gift and income taxation rules applicable to foreign trusts