Only wyoming and new hampshire technically recognize the concept of a foundation. This is more of a construct to sort of provide governmance over wealth. And it's amazing too, because you may go to europe and so on, they have concepts like trusts, called foundations. That's all so big in the middle east but there are distinct differences that don't translate well here.
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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.
