Pre Immigration Planning: The Benefit of A Drop Off Trust
Channel: Esquire Group
Date: 2021-07-17

Becoming a US resident comes with substantial US tax obligations. Without pre-immigration planning, becoming a US resident can be complex and expensive. Even more so if you have substantial assets you wish to protect.

Without pre-immigration planning, once you become a US tax resident, you are subject to income tax on your worldwide income. Additionally, you will likely be subject to US transfer taxes, such as US gift and estate taxes. This depends on whether you’re resident or domiciled in the US. 
The purpose of a Drop-Off Trust is to avoid US transfer taxes on the assets placed in the Drop-Off Trust. It is also possible to avoid subjecting income earned within the Drop-Off Trust by coupling the Drop-Off Trust with Private Placement Life Insurance (PPLI).

Watch the video and learn more!

Jimmy Sexton, LL.M. is the Founder & CEO of Esquire Group. He founded Esquire Group with the objective of helping and inspiring wealthy families, investors, entrepreneurs, and high-level executives obtain and gain control over and protect their wealth, via strategic wealth planning. Jimmy started his career in 2003 and continues to service an elite group of clients. In 2005 he extended services to include tax preparation, which has evolved into Esquire Group’s exclusive Concierge Tax Service. This service is offered to a limited number of clients. 

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