Overview
Individuals are increasingly “international” today – especially wealthy ones. More and more clients work or study abroad, own property in more than one country, find their spouses abroad and qualify as citizens or residents of multiple nations. All of this can subject clients to the competing property, succession and tax laws of multiple jurisdictions. This OnDemand Webinar will help you serve your international clients by identifying and planning for common issues that can arise for this class of individuals. This program specifically reviews basic transfer tax issues for U.S. citizens, noncitizen residents and nonresident aliens; the treatment of foreign and domestic trusts; and estate planning issues concerning noncitizen spouses. The OnDemand Webinar will also discuss special considerations for U.S. citizens living abroad, the new expatriation rules, as well as several traps for the unwary. The U.S. government is now placing a heavy emphasis on enforcing its tax laws with respect to assets held abroad or crossing the border. This workshop is very important for professionals who wish to benefit and protect their international clients.
Authors
Matthew R. Hillery, Edwards Angell Palmer & Dodge LLP
Jay D. Rosenbaum, Edwards Angell Palmer & Dodge LLP
Self Study Credit - OnDemand Webinar
| CBC | 0.5 | | |
| CLE | 1.5 | AK, AZ, CA, DE, HI, ID, IL, KY, ME, MT, NC, ND, NE, NH, NM, NY, OH, OR, PA, TX, UT, VA, VT, WI, WY | |
| CLE | 1.56 | LA | |
| CLE | 1.57 | SC, TN | |
| CLE | 1.6 | AL, GA, IN, MS | |
| CLE | 1.75 | WA | |
| CLE | 1.8 | MO, WV | |
| CLE | 2 | CO, FL, OK | |
Self Study Credit - CD & Reference Manual
| CBC | 0.5 | | |
| CLE | 1.5 | AK, AZ, CA, GA, ME, MT, NM, NV, NY, OR, TX, UT, VT, WA | |
| CLE | 1.8 | MO, WV | |
| CLE | 2 | CO, FL | Immigration & Nationality 1.5; Wills, Trusts, and Estates 1.5; Business Litigation 1.5; International Law 2 |
Self Study Credit - Podcast
| CLE | 1.5 | AK, CA, ME, MT, NM, NV, TX | |
| CLE | 1.8 | MO, WV | |
| CLE | 2 | FL | |
Agenda
Basis for Tax
- U.S. Citizens
- Noncitizen Residents
- Nonresident Aliens and Transfer Tax
- Trusts
Noncitizen Spouse
- No Marital Deduction
- Special Annual Exclusion
- Qualified Domestic Trust
- S. Citizens Living Abroad
- Treaty Considerations
- Funded Trusts
Problem Assets
- U.S. Beneficiary of Foreign Trust
- Receipts of Foreign Gifts and Bequests
- Foreign Bank Accounts and FBARs
- Controlled Foreign Corporations
- Passive Foreign Investment Company
Expatriation
- Mark-to-Market Exit Tax
- Gifts and Bequests From Covered Expatriates
