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Foreign Reporting: Get It RightForeign Reporting: Get It Right

As estate planners, we love helping people, and as attorneys, we need to bill hours. So when we can help people and bill hours at the same time, you'd think that we would be elated. Not necessarily. A large part of our practice in recent years has been devoted to fixing clients' foreign trust and entity tax reporting problems. It usually begins when a new client comes to us for what's ostensibly going

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Elizabeth M. Schurig, partner, Amy P. Jetel, associate, and Carolyn M. Beckett, partner Giordani,

As estate planners, we love helping people, and as attorneys, we need to bill hours. So when we can help people and bill hours at the same time, you'd think that we would be elated. Not necessarily.

A large part of our practice in recent years has been devoted to fixing clients' foreign trust and entity tax reporting problems. It usually begins when a new client comes to us for what's ostensibly going to be a quick review of the foreign trust structure that some advisor set up for them. But what we often find is that even sophisticated lawyers have failed to realize that a trust will be considered foreign for tax purposes, which in turn leads ...

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About the Authors

Amy P. Jetel

Partner, Beckett Tackett Jetel

http://www.btjlaw.com/

Amy P. Jetel focuses her practice on the design, implementation, and administration of outbound and inbound foreign trust and entity structures to meet the estate-planning and asset-protection goals of multi-jurisdictional clients.  In this practice, she has gained a depth of experience in the U.S. tax and compliance aspects of non-U.S. trusts and entities, and she frequently addresses complex international tax and treaty issues faced by individuals with ties to multiple jurisdictions.  Ms. Jetel has developed a niche practice in planning around the throwback-tax regime that applies to foreign non-grantor trusts, and in representing clients before the Internal Revenue Service to bring previously unreported foreign structures into full compliance.  Ms. Jetel also practices in the areas of traditional estate and disability planning, probate and estate administration, and entity formation and governance.  She is a frequent author and speaker in the areas of estate planning, asset protection, and international taxation and compliance.  Ms. Jetelis a veteran of the U.S. Navy.