International Estate Planning Lawyers
Contact Us in MicKinney, Plano, or Frisco
United States citizens and residents are subject to the gift and estate
tax, even if their property is located outside the country. A non-resident
alien property is subject to taxation if the property is located in the
United States. Whenever property is transferred to a spouse who is not
a citizen special rules might apply. Therefore, in the case of estate
planning, citizenship does matter.
For help with these complex matters, call The Willingham Law Firm, PC at
any of our convenient locations throughout Texas:
- In McKinney, (214) 499-9647
- In Plano, (972) 848-3357
- In Frisco, (469) 447-7757
Navigating Complex Estate Tax Issues
Estate tax regulations and laws in the United States take into account
the world-wide assets of an U.S. citizen. For immigrants, this is an issue.
When immigrants are successful businessmen or a part of a wealthy family
in their foreign country, they may own significant assets outside the
United States. All of this property is subject to the U.S. Federal Estate Taxes.
These taxes can take a large portion of your assets and leave less for
your heirs and beneficiaries. While a trust or other estate plan may not
be able to completely avoid paying taxes, having a document in place may
help you or your beneficiaries avoid paying extraneous costs.
Creating an Estate Plan to Protect Your Assets
An attorney familiar with the law of the United States will be needed for
an estate plan. Creating a solid and legally binding plan on how to protect
family assets from the U.S. Federal Estate Tax laws is extremely important.
If you or your family member owns property outside the U.S.,
contact our McKinney international estate planning lawyers at The Willingham Law Firm, PC to schedule your
free initial consultation today.