Transfers to Foreign Trusts Could Trigger Gain Recognition

    View Author October 2010
    In the article “Transfers to Foreign Trusts Could Trigger Gain Recognition,” which appeared in the October 2010 issue of Estate Planning Journal, Squire Sanders partner Jeffrey S. Levin reviews the current statutory provision providing for income recognition on the transfer of appreciated assets by a US person to certain foreign trusts, and the accompanying tax reporting requirements. He also presents several practical examples to illustrate the application of this provision.