Many people rightfully wonder who may be a beneficiary of a trust? Fortunately, the answer is relatively straight forward. In most jurisdictions, virtually anyone can be a beneficiary (family, friends, charities, corporations). Pets and animals may even be beneficiaries in some jurisdictions. Additionally, most jurisdictions allow you to add and remove beneficiaries over time (assuming […]

It amazes me how often people contact me with the same magnificent tax planning strategy. They want to setup a company in a no- or low-tax jurisdiction and route revenue to it while actually operating it from wherever they live.

You know what sucks? Getting advice from your advisors that is in their best interest rather than yours. Unfortunately, it happens far too often.

You know what sucks worse than tax? Double tax! Or worse, triple tax! And I can’t think of another “entity” that poses more taxation risk for U.S. persons than foreign trusts (including foreign foundations).

Most people understand the benefits of setting up a trust or foundation—estate planning, succession planning, wealth protection, privacy, and tax minimization. What they don’t understand is how they can continue to control their assets once transferred to their trust or foundation.

Ah, the US of A, the land of the free and home of brutal oppressive taxation. I say that love. America is, after all the, country of my birth (even though I am no longer a citizen). And, despite having a crushing a tax system, it is still the land of opportunity.