Overview

Organized around common real-world scenarios, Foreign Trusts Simply explains when an arrangement is classified as a foreign trust, the resulting tax consequences, and the information reporting obligations that may apply. Cross-references throughout the text help readers connect foundational concepts with practical applications. Beginning with the fundamentals of trust law, the book explains how trusts operate under U.S. law before examining the taxation of domestic and foreign trusts, foreign trust classification, and key compliance requirements. It also addresses practical strategies for trust administration that can help prevent unintended foreign trust status and resolve or avoid common tax issues. A glossary with citations to relevant statutes, regulations, and cases provides a convenient reference for further research. Designed for attorneys, trustees, tax professionals, and other advisors, Foreign Trusts Simply breaks a complex subject into clear, manageable components, making it an accessible resource for both experienced practitioners and those new to the field.

Full Product Details

Author:   Ruth Mattson
Publisher:   American Bar Association
Imprint:   American Bar Association
ISBN:  

9781639050901

ISBN 10:   1639050906
Pages:   228
Publication Date:   13 October 2026
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Not yet available  
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Table of Contents

What is a Trust? How are Trusts Created under U.S. Law? How are Trusts Created outside the United States? What Makes a Trust Foreign under U.S. Tax Law? How does the U.S. Tax the Income of Domestic Trusts? How does the U.S. Categorize Foreign Trusts into Grantor Trusts and Nongrantor Trusts? How does the U.S. Tax the Income of Foreign Grantor Trusts? How does the U.S. Tax the Income of Foreign Nongrantor Trusts? How does the U.S. Tax Distributions from Foreign Nongrantor Trusts? When is a Trust Taxed as a Business Entity? How does the U.S. Tax the Income of Foreign Corporations Held in Trust? How does a Foreign Trust's Taxation Relate to a Foreign Estate's Taxation? How do U.S. Transfer Taxes Apply to Foreign Trusts? How do Foreign Trusts and Foreign Assets Generate Information Reporting Obligations? Which State-Level Taxes Apply to Foreign Trusts? How can a Trustee Administer a Foreign Trust to Limit U.S. Problems? What Methods are Available to Fix Inadvertent Foreign Trusts? Which Trust Provisions can Help to Prevent Inadvertent Foreign Trusts? Scenarios Illustrating Common Foreign Trust Issues Conclusions

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