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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
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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