The international estate planning process is designed to protect property
and assets that may be under different tax and succession laws of various
countries. If you own property in multiple countries, or you are a non-U.S.
citizen who has U.S. citizen beneficiaries, or you are a non-U.S. citizen
who has investments in the U.S. or who has a U.S. citizen spouse, it is
important to plan your estate to ensure it goes to the people you choose
after you die. Otherwise, your family members may be left to pay taxes
in several different countries, and they may have a difficult time receiving
the assets of your estate.
International estate planning often involves:
- Retirement plans
- Life insurance policies
- Foreign tax treaties
- Survivorship accounts
- Will substitutes
The U.S. has tax treaties with several countries. Foreign tax credits will
depend on whether the property is subjected to transfer or death taxes,
whether it is included in the decedent’s gross estate, and whether
it is located in a foreign country. By having an estate plan that takes
into account taxation and succession rules of the particular countries
where your property or assets are located, you can help ensure your family
members won’t have to hassle with complicated issues after you pass away.
Call Our Longmont Estate Planning Attorneys Today at (720) 809-8310
Jorgensen, Brownell & Pepin, P.C. provides experienced assistance to
clients facing international estate planning. While the process may seem
confusing, we can help you understand the foreign laws regarding your
assets and property, and draft an estate plan that will ensure your wishes
are met. Our legal team can analyze the tax laws and succession rules
governing your estate and walk you through the process.
Contact us today to schedule a consultation.