• S1E1: Navigating the Complexities of Foreign Grantor Trusts

  • May 1 2024
  • Length: 23 mins
  • Podcast

S1E1: Navigating the Complexities of Foreign Grantor Trusts

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  • Summary

  • Join us for a deep dive into the world of Foreign Grantor Trusts (FGTs) and their impact on U.S. Federal income tax, featuring guest speaker Jay Rubinstein, a seasoned U.S. Tax Lawyer from the society Whithers. In this episode, we explore the conditions that classify a trust as foreign, and how this classification affects the tax obligations of the Grantor and U.S. beneficiaries, particularly concerning distributions and estate taxes. We'll discuss the essential clauses typical in FGTs, the significant tax consequences post-Grantor's death, and strategies to manage adverse tax effects, including the implications of the CFC rules following the 2017 tax reform. We'll also cover the long-term implications for estate, gift, and generation-skipping taxes. This comprehensive overview aims to provide listeners with a clear understanding of FGTs in U.S. taxation.
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.