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Immigrant Family Estate Planning
If you or someone you know is not native to the United States, there are at least three unique planning considerations you should be aware of:
If you are undocumented and are forced to leave the country, you could lose your parental rights and/or rights to your assets in the United States. With some basic documents in place, you would be able to retain those rights while assigning someone to temporarily take custody of your children or assets until you are able to get your affairs in order. If you are not a US citizen and either don’t qualify as a resident or pass away while you are abroad without proper estate planning documentation in place, any assets over the current $60k exemption amount would become subject to a 40% estate tax. With proper planning, that exemption would jump to $5.45 million (in 2016) or higher. If you own property or other assets in a different country and do not have a coordinated estate plan that addresses the laws of each county, you may unintentionally lose your rights to that property when you pass away. At Inter Vivos, we not only help with estate planning issues unique to immigrants and their families, our attorneys also speak several languages. For more information, give us a call! |
E-book: "Estate Planning For Aliens to Natives & Everyone in Between"
If you own property outside of the United States or governed by foreign law, that property could be at risk if something happens to you. Our upcoming E-Book, "Estate Planning for Aliens to Natives & Everyone in Between" discusses important planning considerations for anyone with property abroad, property on Native American Tribal Lands, and/or anyone who has emigrated to another country. In today's global economy planning is extremely important for anyone with multi-national connections.
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