Trust Newsletter #3 – Drawing Funds Down to the Trust Bank Account from Foreign (Overseas and/or Cyberspace) Jurisdictions

Hi Folks

This is Mark Pytellek again, from Private Trust Makers (PTM), the makers of your Trust.

To all our Trust clients, including the most recent new ones, welcome to our monthly free educational circular as part of our program to educate and upskill our Trust clients so they learn to competently use their Trust without having to run to and rely on lawyers or accountants, thus saving you time and money.

The selected subject matter topic today, being one of the most common reasons we are approached by our clients, is titled “Drawing Funds Down to the Trust Bank Account from Foreign (Overseas and/or Cyberspace) Jurisdictions”.

The subject of transferring funds to the local Trust Bank Account, be they foreign currencies, local currency held in Stripe, PayPal or elsewhere, cryptocurrencies held in wallets, is often a cause of angst among many folks by reason of fear of attracting a large tax bill from the local pirate, or worse, the freezing of the Trust Bank account or confiscation of funds when they hit the Trust Bank account.

Does this concern resonate with you?