Business and Finance Business and Finance
Sun, March 30, 2025
[ Last Sunday ] - Newsweek
The Texas Business Boom

Estate Planning When You Have International Assets


Published on 2025-03-30 06:20:54 - Kiplinger
  Print publication without navigation

  • Estate planning gets tricky when you have assets and/or beneficiaries outside the U.S. To avoid costly inheritance mistakes, it pays to understand the basics.

The article from Kiplinger discusses the complexities of estate planning when assets are spread across different countries. It highlights the importance of understanding the legal and tax implications in each jurisdiction where assets are held. Key points include the need for a will in each country where significant assets are located due to differences in inheritance laws, the potential for double taxation, and the necessity of considering treaties like the U.S. estate tax treaties to mitigate tax issues. The article also touches on the use of trusts, the role of domicile in determining tax obligations, and the benefits of hiring local legal experts to navigate foreign laws. Additionally, it addresses the complications arising from forced heirship rules in some countries, which can override personal wishes regarding asset distribution, and suggests strategies like life insurance to provide liquidity for estate taxes or to equalize inheritances among heirs.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/retirement/estate-planning-when-you-have-international-assets ]