What Happens to My Trust If I Move Overseas?
Photo by Greta Schölderle Möller on Unsplash
Question:
I have an irrevocable trust and I am moving to Spain to retire. Can my trustee still pay me monthly income and remain my trust company?
Response:
Yes, that should be no problem. But check with the trust company just to be sure how it would work.
The only situation where we have run into trouble is when a trustee, rather than a beneficiary, has moved overseas. Then some financial institutions restrict their ability to manage the investments. Fidelity Investments is notorious in this regard.
But it doesn’t sound like you’re the trustee of the trust and since you have a trust company managing it this might not be a problem even if you were a co-trustee.
Buena suerte en Espana!
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