U.S. Situs Trust Strategies for International Families: Navigating Trust Structures, Reporting, and Tax Challenges

Note: CPE credit is not offered on this program

A live 90-minute CLE webinar with interactive Q&A


Wednesday, December 9, 2020

1:00pm-2:30pm EST, 10:00am-11:30am PST

Early Registration Discount Deadline, Friday, November 13, 2020

or call 1-800-926-7926

This webinar will provide trusts and estates counsel a detailed analysis of U.S. trust strategies for non-U.S. families. The panel will discuss using a variety of trust structures for tax planning and asset protection, key considerations in changing and selecting trust situs, and reporting and compliance issues, as well as offer planning techniques to minimize adverse tax and legal implications.

Description

Under current U.S. tax law, trusts are a useful tool for estate, succession, and tax planning for international families. Trusts and estates counsel must understand the nuances of available trust structures, tax implications, and administrative challenges when establishing U.S. situs trusts for international families.

Each U.S. state has its own set of trust laws, and several states have adopted the Uniform Trust Code providing significant uniformity. Some states have deviated from the UTC and provide additional flexibility options for trusts. Trusts and estates counsel must consider these options with selecting a favorable trust situs or determining a foreign trust's change of situs.

In addition to determining trust situs, counsel must recognize key tax issues and legal implications of specific trust structures that are being considered based on the client's circumstances. Failure to do so may adversely impact the client, certain assets, and beneficiaries.

Listen as our panel discusses a variety of trust structures for tax planning and asset protection, critical considerations in changing and selecting trust situs, and reporting requirements, as well as offer planning techniques to minimize adverse tax and legal implications.

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Outline

  1. Advantages and disadvantages of a U.S. situs trust for international families
  2. Nuances of different trust structures
    1. Foreign grantor and non-grantor trusts
    2. Dynasty trusts
    3. Self-settled trusts
    4. QDOTs
  3. Determining trust situs
  4. Critical issues for real estate
  5. Understanding applicable tax rules and reporting obligations

Benefits

The panel will discuss these and other noteworthy issues:

  • What are the pros and cons of establishing a U.S. situs trust for international families?
  • What types of trusts are available, and what are the critical considerations for each?
  • What are the primary factors in determining a favorable situs for the trust?
  • What issues arise for real estate purchases and planning solutions for nonresident aliens?
  • What are the applicable tax rules and reporting requirements?

Faculty

Field, Joseph
Joseph A. Field

Senior Counsel
Pillsbury Winthrop Shaw Pittman

Mr. Field represents international families on structuring their estate planning as well as financial institutions on a...  |  Read More

Lipoff, Lawrence
Lawrence M. Lipoff, CPA, TEP, CEBS

Director
CohnReznick

With more than 30 years of experience, Mr. Lipoff specializes in the delivery of domestic and international private...  |  Read More

Warshaw, Melvin
Melvin A. Warshaw, JD, LLM

Principal, General Counsel
Financial Architects Partners

Mr. Warshaw is the General Counsel of Financial Architects Partners. His primary responsibility is to liaison with tax...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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48 hours after event

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Download

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DVD

10 business days after event

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