Client Story

Questions around UK tax treatment of offshore trusts answered by our Private Wealth specialists

14th April 2023

Our Private Wealth team assisted a client on the status of various US family trusts for UK inheritance tax purposes. This included carefully considering the family history, the nature of the trusts and the application of the US/UK estate tax treaty to determine if the settled property was outside the scope of UK inheritance tax. The team also advised the client on tax implications of distributions from the trust if they took up residence in the UK, and recommended arrangements to consider before moving.

As Bernadette O’Reilly in our Private Wealth team noted: “Our team has significant experience in advising clients on cross-border estate planning issues, and our expertise allows us to provide effective solutions that address our clients’ unique needs.

“We understand the importance of navigating the complexities of cross-border estate planning issues and are adept at analysing the nuances of relevant laws and regulations, working with advisors in other jurisdictions where appropriate to ensure our clients are fully informed. Our clients appreciate our ability to provide clear and concise advice that is tailored to their specific circumstances.”

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