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Trusts and Estates

Ca. Trs. & Estates Quarterly 2018, Volume 24, Issue 4

DOMESTICATING FOREIGN TRUSTS: THE TRUST, TAX, AND ETHICAL CONSIDERATIONS IN BRINGING FOREIGN TRUSTS HOME

By Brian P. Tsu, Esq.*

I. INTRODUCTION

A. Scope

Trust domestication is the process by which the situs of a foreign trust is moved from a foreign jurisdiction to the United States. This article identifies reasons for domesticating a foreign trust from the perspective of a U.S. beneficiary or settlor.1 In addition, this article examines the trust, tax, and ethical considerations and, where possible, offers potential solutions to problems encountered in a trust domestication. Although relevant to a trust domestication, this article will not examine the local laws of a foreign trust and instead will focus on the U.S. legal aspects of the transaction.

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