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Pamela Avraham's Blog – February 2014 Archive (1)

Israel Now Taxing US Trusts with Israeli Beneficiaires

If you have family living in Israel for whom you set up an irrevocable trust, Israel now wants its share. Until 2014, irrevocable trusts settled by foreign residents in favor of Israeli resident beneficiaries weren’t taxed by Israel unless the beneficiaries exercised “control or influence” over the trust. This is no longer the case.

Beginning January 1, 2014, Israel is taxing any trust anywhere in the world that has an Israeli resident beneficiary. For more information, click here: …

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Added by Pamela Avraham on February 7, 2014 at 11:37am — No Comments