Category: Trusts & Estates Category: Trusts & Estates (show less)

Trust domestication is the process by which the situs of a foreign trust is moved from a foreign jurisdiction to the United States. This article identifies reasons for domesticating a foreign trust from the perspective of a U.S. beneficiary or settlor. In addition, this article examines the trust, tax, and ethical considerations and, where possible, offers potential solutions to problems encountered in a trust domestication. Although relevant to a trust domestication, this article will not examine the local laws of a foreign trust and instead will focus on the U.S. legal aspects of the transaction.