Can My Children in India be Beneficiaries of My Living Trust?
I want put a house in California into a living trust. One of my daughters lives in the United States but my other two adult children are in India. Can my other children be beneficiaries of my trust?
Yes, there’s no problem with naming non-U.S. citizens or residents as beneficiaries of a trust. Legally, they can also serve as trustees, but practically you’re probably better off naming your daughter in the United States as trustee. It will be a lot easier to manage the property if the trustee has a U.S. address and to deal with financial and tax issues if the property might be rented out or when it’s sold.
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Whether you’re creating a plan, managing a trust, or are a beneficiary of a trust, this book is your easy-to-read roadmap.