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Noting that transferring assets into Trust will often trigger a capital sales event (and tax), while potentially increasing asset holding costs (your home held
by JacobAldridge 6y ago
Noting that transferring assets into Trust will often trigger a capital sales event (and tax), while potentially increasing asset holding costs (your home held by a Cook Islands trust may be subject to non-resident land taxes, for example, than many self-occupiers are exempt from) or life friction (I had a UK client who refused to work with me unless my main company was based in the UK, for example). Of course, these things are hugely jurisdictional - I would set the bar much higher than $250K net worth, but agree with your point.