Tax Tip

by | Jul 24, 2002 | Archives

Part of Everlasting Wealth is keeping what you make and one tax tip from tax attorney Carlos Kepke shows that if you are a U.S. citizen fortunate enough to have a foreign relative (by blood or by marriage) who is willing to create a foreign trust for you and/or your family members as beneficiaries then you have within your grasp the ultimate tax Utopia.

With such a trust, if it is revocable, U.S. beneficiaries may receive tax free distributions, and they need not even disclose those distributions to the I.R.S. if they do not exceed $100,000.00 per year.

The kicker is that the trust must be revocable (usually by the foreign relative/grantor). Revocability can expose the trust's assets but certain safety procedures can be put in place to minimize this exposure.

All in all this Utopia is well worth pursuing if one has a willing foreign relative to act as the grantor/creator of the foreign trust.

This is not a haven for everyone because of its complexity and this simple tip is just meant to expose the idea to those who might be in this position. This tip does not go into the highly technical explanation of how this loophole works nor does it outline the costs that make this viable only for those with substantial assets to set aside. However if you have the foreign relative and the assets, I highly recommend that you get in touch with a tax attorney who has experience in this area. Carlos Kepke has provided us with this tip. His email address is Carlos address is ThreeRiverway, Suite 470, Houston, Texas, 77056. Tel: 713-626-0612 and Fax: 713-626-0613.

Until next message may all your wealth be everlasting and your investing inspired.