International Estate Planning for Individuals

Serving Residents of Washington DC, Miami, Dallas & Orlando

For non-U.S. citizens that are residing in the U.S., estate planning is a multidisciplinary practice that requires knowledge of a multitude of practices, including:

  • International tax
  • Gift and estate tax treaties
  • International conflict of laws principles
  • Foreign tax law
  • Foreign forced heirship laws
  • Foreign estate planning law

For the unseasoned domestic estate planning attorney, international estates can be treacherous and are fraught with potential malpractice liability concerns. Allow Castro & Co. to assist you -- we serve clients worldwide with office located in Washington DC, Miami, Dallas and Orlando.

U.S. citizens and residents are subject to the U.S. gift, estate, and generation-skipping transfer (GST) taxes on their worldwide estate. However, for U.S. gift and estate tax purposes, residency is defined much differently than it is for U.S. income tax purposes. Unlike the objective standards for U.S. income tax purposes, residence is more akin to domicile for U.S. gift and estate tax purposes. This difference gives rise to valuable estate planning opportunities that clients need to fully utilize.

For example, with proper domicile planning, a non-U.S. citizen individual can be a U.S. green card holder and resident for U.S. income tax purposes yet, for U.S. estate tax purposes, be considered a non-U.S. domiciliary not subject to U.S. gift and estate taxes. This would limit the imposition of U.S. estate tax to U.S.-sitused assets. Furthermore, if all U.S.-sitused assets are owned by a special purpose foreign “blocker” corporation, then the individual will be deemed to have no taxable U.S. estate. The concept is simple but the details are complex. We cut through the complexity by planning and implementing everything with sufficient degree of economic substance.

Castro & Co. has the knowledge and experience that complex global estates require. Call (888) 595-5088 to learn more and receive the international estate planning assistance you need from one of our experienced lawyers.

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