As a green card holder, do I need to include my real estate in Korea when setting up a trust?
Hello. I’m a green card holder. I’d like to know if I need to include real estate I own in Korea when creating a Living Trust.
Also, does the trust have the same legal effect on overseas assets?
This can vary depending on each state’s Trust Act, but generally, all assets held by the person establishing the trust can be included in the trust without limitation. For real estate, you would need to register in Korea that the property has been placed into the trust, and for any other assets requiring registration, you would similarly register the trust accordingly.