2020 – OUR 28th YEAR OF PUBLICATION! Volume XXVII • Number 3 • September 2020 TIME IS OF THE ESSENCE – TAKE ADVANTAGE NOW INTRODUCTION As you know, the Trump tax cuts (2017 Tax Cuts and Jobs Act) created unprecedented opportunities for individuals and families to transfer their legacies in a tax-efficient manner. These cuts […]
Tag: U.S. clients
Usually articles and studies concerning offshore trusts have focused on their use for asset protection. However another, very important, use of a certain type of offshore trust, is to effect estate tax savings. This can be accomplished by ‘freezing’ the value of trust assets vis-a-vis the settlor’s estate at current values. Result? Any future growth in asset values will escape US federal estate taxation, thus increasing the amounts received by children and other beneficiaries. A variation of this technique can also be used for non-resident aliens owning US real estate, or those wishing to immigrate to the United States, to practically eliminate any US estate tax on death.