Most foreign s who aren't here for at least half the year, they don't pay capital gains in the us. So it can be quite handy for them if they live in a jurisdiction that's sort of a low tax jurisdiction, to invest in the me. Through a trust that is structured is what's called a grantor trust, meaning that they're treat as if they own everything in the trust. They get all the benefits of having a us. Trust, aser protection, et cetera, but it's a grantor trusts. In they're still the taxpayer. And when they sell assets and create capital gain events, they don’t get taxed on the capital
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International and Cross-Border Planning have been a major issues for high net worth clients for as long as there have been borders. It’s an enormous topic.
Jobs, new family situations and geopolitics often send people to different countries for different opportunities. All of this can have tax implications around an estate plan . . .
Add in the complications of new asset classes and confusion around citizenship, residence and tax obligations. There is a lot to consider- especially for U.S. citizens with connectivity abroad.
Here to help us think about that is BRENT NELSON . . .
Brent is a Partner at the RIMON LAW FIRM in Tuscon, AZ and represents a variety of cross-border clients.
