In certain areas of Southern California, local business and real estate have been largely supported by an influx of money coming from International sources. Many people find themselves in a position where they spend time living in different countries and own property or hold financial assets in multiple countries. We consult with and advise these clients on estate planning for those assets held in the United States.
International estate planning examples:
- Married couple where one spouse is a U.S. Citizen and the other spouse is a citizen of another country.
- Resident non-citizen or a citizen who owns property in another country.
- Non-Resident Non-Citizens with financial interests in the United States.
There are significant Federal tax implications related to international estate planning that can be addressed with the creation of domestic trusts, foreign holding companies, foreign trusts, annuities, and life insurance contracts. In addition, California has its own set of specific rules when it comes to community property, guardianship and trust administration. Please contact us to set up a consultation where we can discuss your situation and and any relevant international estate planning options available to you.