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Non-citizen granted trust 

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Can a non-US citizen grant a US trust to hold a Lifetime Income Annuity issued by a US insurance company to benefit his non-citizen handicapped son? His wish is based on the safety of the insurance company and the fund under management. Trustee can be a US corporation or professional organization. 

Asked in Insurance Law - 663 days ago

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jslyan
jslyan
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Generally this will depend on the type of trust and the policies of the trustee of the trust. For example, there is something known as the Qualified Domestic Trust which is used to preserve the marital deduction when the surviving spouse is not a United States citizen and the trust assets are likely to be subject to the federal estate tax if the marital deduction is not available. You should contact the trustee company to see what they can offer you.

Please note that I am not an attorney and this is not legal advice.

Answered by LQ at Aug 2, 2010 03:18 PM

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