By Rusudan Shervashidze and Nina Krauthamer ( August 1, 2018, 4:15 PM EDT) -- In today's global environment, it is not surprising to find that a beneficiary of a foreign estate or trust is living in the U.S. An interest in a foreign trust can be problematic for the beneficiary if the trust invests in a foreign "blocker" corporation that holds passive assets (such as stocks and securities) or a foreign mutual fund. U.S. tax law imposes special rules on U.S. direct and indirect owners of passive foreign investment companies, or PFICs....
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