AboutJohn D Smith, CFP Expertise I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner (CFP) and have performed fee only investment management and financial planning services for the past 11 years.
Question QUESTION: Can a father, living in France, mount successive family trusts in Jersey, when he lives in France?
And can the father legally exclude one or more of his children from these family trusts having initially included them?
ANSWER: Hi. To clarify, is your father a French citizen, a US citizen living in France, or does he have duel citizenship?
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QUESTION: Thanks for getting back to me so fast, my father is British only, though he's been living in France for over twenty years.
Answer I apologize, but given the fact that your father is British, lives in France, and wants to set up Trusts in the US makes the situation complex and beyond my scope of expertise. The basic answer to your question under US law, yes, he can set up Trusts that exclude certain family members, however, I cannot advise on whether or not the steps to take are the same given his citizenship and country or residence. You need to talk to a qualified estate planing attorney to clarify this. Sorry I could not be of further assistance.
