It is conceivable to give up your citizenship and have no residency anywhere for tax purposes. The percentage of advisers that even know that these issues exist is, sadly, very low. If you're in a unique scenario where you can spot an issue that other people can't, that means you can charge a premium. That's a huge value ad and you immediately differentiate yourself. But once you know the issue, then you can guide clients and you can really add value to them.
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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.
