When moving to France, US expats should reconsider the use of their living trust due to complex legal implications and significant tax penalties that may arise.
Contrary to the popular practice in the US, living trusts cannot be effectively managed under French law, which leads to complications for American citizens.
The revocable trust is commonplace in the U.S. for avoiding probate, but due to France's absence of trust laws, it becomes a liability rather than an asset.
US citizens with a living trust will find the complexities of French legal and tax systems challenging, and should seek expert advice before relocating.
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