In Part I of this article,1 we discussed income tax saving opportunities afforded by non-grantor trusts. We’ll now discuss certain disadvantages of non-grantor trusts in both domestic and international contexts. In cross-border situations, the challenge is usually to manage the complexities and avoid traps for the unwary. In the domestic context, often the key is to weigh the short-term income tax benefits a non-grantor trust may yield with the long-term estate tax savings that
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