Article On The Benefits and Burdens of Foreign Trusts

Stephen Liss recently published an article entitled, The Benefits and Burdens of Foreign Trusts, 29 Probate & Property 3 (May/June 2015). Provided below is an excerpt from the article:

Part of globalization is the increasing movement of human capital (that is, people) across the borders of traditional nation states. This trend shows no signs of ebbing, and the United States remains an attractive destination for the globally mobile. As a result, an increasing number of people resident in the Untied States benefit from trust located outside the United States. This article summarizes some of the key tax and reporting issues associated with U.S. beneficiaries of foreign trusts.