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International Planning

Estate and Tax Planning for Cross-Border Families

Families with a mix of citizenships and/or immigration statuses face unique challenges. For that reason, standard traditional estate planning tools will not work in those situations. Cross-border families commonly hold various assets and business interests that are subject to probate or laws of succession in multiple jurisdictions. In these circumstances, proper estate planning is more critical than ever.

PLANNING FOR U.S. CITIZENS

You worked hard to build your family’s wealth and legacy, so it makes sense to put similar effort into protecting those assets. Multiple techniques can mitigate the cost of various administrations and the high cost of taxes.

There are unique rules that apply to those individuals that live, work, or have assets in jurisdictions other than the United States. The following is not an exhaustive list, but Cross-border issues may arise if you are one of the following persons:

The following, By no means, is an exhaustive list of people that may be affected by cross-border rules, but it can give you a good idea:
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U.S. citizens married to a non-citizen spouse
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U.S. citizens working abroad
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U.S. citizens with bank accounts abroad
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U.S. citizen receiving inheritance located in a country outside the U.S.
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U.S. citizen with minor children but with no relatives in the U.S.
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U.S. expat

Recognizing that there are special rules that may apply to these persons is of vital importance and only the first spet in the planning process. Many Americans that ignore the existence of these rules often fall into pitfalls.

…That’s where we come in. We can set up your business and life structures to ensure that you can take the maximum risk with minimum worry.

PLANNING FOR FOREIGN NATIONALS

The United States has its own regulations when it comes to estate and tax laws. If you are a non-U.S. person, you are probably not familiar with them; so, please, don’t assume that these rules are similar to your country’s laws. There are several rules, concepts, and tools—in both the tax and estate planning world—that do not travel well to the U.S.

The following is not an exhaustive list, but Cross-border issues may arise if you are one of the following persons:
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Foreign national investing in the U.S.
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Foreign national doing business in the U.S.
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Foreign national coming to the U.S. with a non-immigrant visa
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Foreign national coming to the U.S. with an immigrant visa
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Foreign national making gifts in the U.S.

We can provide the guidance you need to keep you away from troubles with the IRS for not complying with U.S. laws.

Do You Have Questions?

Contact us for a Consultation