UK/US estate planning
In this matter, we advised a UK resident and domiciled client in relation to the nature of a lifetime trust established as a Will substitute during a period of residence in the US. This included advice as to the client’s actual domicile and deemed domicile status, the UK tax treatment of the trust and adjusting his arrangements (together with his US advisors) to ensure an efficient succession plan factoring in the operation of the UK/US double tax treaty.