International Estate Planning Lawyer

In today’s modern world, international estate planning is more important than ever. Whether you are a U.S citizen with assets in other countries, a U.S Resident Alien with assets in other countries or a Non-Resident Alien with assets in the United States, you need the advice of an International Estate Planning Attorney. Even if you do not fall into one of these categories, you may be a beneficiary of assets in other countries.

Estate Planning for U.S. Citizens with International Assets

If you are a U.S. Citizen with assets in other countries, your estate plan may not be sufficient to direct the transfer of your assets in other countries.  Often times you need to have a separate estate plan in those individual countries to control the distribution of those assets.  As International Estate Planning Attorneys, we assist clients with coordinating their United States’ estate plans with their estate plans in other countries to ensure there is no need for probate in any country, to the extent possible.

International Estate Planning for U.S. Resident Aliens with Assets in Other Countries

Many U.S Resident Aliens, also known as “Green Card Holders” have significant ties to their home country.  Whether you own assets in your home country, or you have family in your home country, it is important to consider these issues in your estate plan.  One of the benefits of being a U.S. Resident Alien is that you are entitled to a larger U.S. gift and estate tax exemption than Non-Resident Aliens.  However, unlike U.S. Citizens, U.S. Resident Aliens do not have an unlimited marital deduction so often times a Qualified Domestic Trust (“QDOT”) is needed to prevent taxes upon your spouse’s death.  It is imperative that you work with an International Estate Planning Attorney that understands how to maximize the use of a QDOT and other techniques for U.S. Resident Aliens.

International Estate Planning for Non-Resident Aliens

Many Non-Resident Aliens have no idea that they are subject to U.S. estate taxes as soon as they own assets in the United States.  If you are a Non-Resident Aliens, you are subject to a 40% tax on your cumulative assets in the U.S. over $60,000.  Many Non-Resident Aliens have purchased real estate in the United States because it is considered a safe investment.  However, if you attempt to gift your U.S. based assets, or if you die owning any U.S. based assets, you are likely to lose 40% to gift or estate taxes.  It is important for Non-Resident Aliens to discuss these issues with an International Estate Planning Attorney to avoid this very harsh tax.

International Estate Planning for Non-Resident Aliens Who Will Become U.S. Residents or U.S. Citizens

If you are a Non-Resident Alien, but intend on becoming a U.S Resident in the future, there are important estate planning opportunities before you apply for your U.S. visa.  While residency or citizenship in the United States may be ideal for personal reasons, it is important to consider the tax ramifications before obtaining residency for estate and gift tax purposes.  Our International Estate Planning Lawyers can assist you with avoiding U.S. estate and gift taxes on your U.S. assets and International assets.

International Estate Planning for Beneficiaries of Assets in Other Countries

Even if you are a U.S. Citizen and you do not have any assets in another country, you may be a beneficiary of assets from another country.  Since inevitably you will be the one paying any taxes on the assets you receive, it is important to understanding the reporting requirements when you receive assets from  Non-Resident Aliens and any potential opportunities to avoid taxes.

More Information on Estate Planning for Specific Countries

  1. Vietnamese Estate Planning
  2. Chinese Estate Planning
  3. Taiwanese Estate Planning
  4. French Estate Planning (please call).
  5. Canadian Estate Planning (please call).

International Estate Planning Attorney

John L. Wong and Anh P. Tran are International Estate Planning Attorneys at Modern Wealth Law who specialize in these complicated issues.  If you or a loved one is faced with any of these situations, please contact us at (949) 371-5003 to discuss further.