Often, trusts established by non-U.S. citizen decedents under their U.S. wills or revocable trusts to care for minor children become foreign trusts by accident. This triggers significant tax and reporting consequences. But there are solutions.
It's very common for non-U.S. citizens who live and work in the United States to create a U.S. will or revocable trust. Sometimes, they take these actions because they've become long-term U.S. residents and have accumulated substantial assets he