This lunchtime talk was intended to focus on the post foreign grantor and filing issues for US structures. While many practitioners are familiar with non US grantor trust, many of them may not be aware of the common pitfalls where US structures hold US assets or trust becoming non grantor trust.
Derren Joseph, a partner of Hayden T Joseph started the talk with a case study with issues where most of the trust practitioners do encounter. The case study was used to address some of the questions given to him by the committee before the talk. Aside from discussing on the trust or other US structures, Derren also highlighted about gift/inheritance allowance not subject to tax between family members such as spouse and children.
Questions raised during the Q&A were mainly about post grantor trust arrangement.
Executive Director, Lion Trust (Singapore) Limited