Yes, relevant parties should be aware of future tax obligations and be prepared for required actions when the grantor passes away. Some matters can be prepared in advance to ease the administrative burden on beneficiaries when the grantor passes away, such as:

• “Check the box” planning for holding companies within the trust,
• Setting up a standby trust in the U.S., if desired, and
• General power of appointment planning to potentially extend the FGT status of the trust.