Serving as Trustee of Foreign Trusts Presentation

Jennie Cherry presents, Serving as Trustee of Foreign Trusts: Planning Opportunities, FATCA, and Advantages Over Offshore Trust Companies to the South Dakota Trust Association Fall Forum on October 5, 2023.  Jennie will describe a planning scenario attractive to non-US wealth generators with US descendants centered around a foreign grantor trust with a SD trust company trustee.  She will then discuss the specific responsibilities for the trust company when serving as trustee of a foreign trust, including FATCA status, due diligence and reporting; income tax status and W-8 forms; and CRS Controlling Persons.  Finally, Jennie will provide insights into the business opportunities of onshore foreign trusts.