Over the last few years, there has been an increased emphasis by the U.S. government on the area of international law and international trusts. In line with its focus on undisclosed foreign bank accounts, the IRS has also increased its investigation into the use of international trusts and the proper reporting, filings and forms related with these entities. As a result, there has been an increase in litigation involving alleged misuse of trusts.
When dealing with international trusts, it is important to understand the estate planning mechanisms employed by U.S. clients with foreign connections and by foreign clients with U.S. connections. The tax and reporting rules relating to foreign trusts and domestic trusts established by foreign grantors are very specific and should be reviewed very carefully. As a result of these specific rules, it is important that clients obtain experienced counsel that is well versed in litigation concerning trusts and trust law.
If you have been contacted by the IRS regarding an international trust or have questions relating to an international trust dispute,contact Kevin E. thorn at 202 349-4033. The experienced international tax attorneys at Thorn Law Group can help you to resolve your international trust issues.