Volume 12 No 1    /    Read Article

By Allison E. Dolzani

In the United States, creating “dynasty trusts” has become common planning tool for many estate planners. A dynasty trust is a trust that may continue for generations. If done well, it provides a myriad of benefits for strategic income, estate and gift tax planning, creditor protection and ensuring family inheritance. Nonetheless, life choices have a way of interfering with preset plans. A beneficiary moves to a different country. A trustee who is a U.S. resident, but not a citizen decides to move home. A foreign parent of a U.S. spouse wishes to make a gift to the next generation of beneficiaries. These seemingly trivial details could unintentionally cause severe tax and other planning consequences in the U.S. and abroad. Based on her experience, Allison Dolzani leads the reader through a cycle of cross border issues that must be addressed as life progresses.  See more →