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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Tuesday, November 5, 2024

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$297.00
CLE
CPE
ALL

This CLE/CPE webinar will give estate planners and advisers an in-depth discussion of various challenges and estate planning techniques for mixed-nationality couples. The panel will discuss key planning considerations and available options, the impact of tax resident status on estate planning, and U.S. citizenship-based taxation planning repercussions where one spouse is a U.S. citizen. The panel will explore challenges for couples who live and work outside the U.S. and are subject to tax rules of multiple countries, gifting and shifting the tax burden to the non-U.S. spouse, and other vital issues.

Faculty

Burgess Raby
Principal
Raby Law Office

Mr. Raby's practice focuses on international tax matters, including planning for foreign investment into the United States, planning for United States persons investing and undertaking businesses outside the United States, ownership of foreign real estate by United States persons (FIRPTA), and ensuring that all United States reporting requirements are met, including FATCA, FBARs, and various IRS information returns. He also includes advising start-up companies and tax litigation matters, both international and domestic.

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Christopher J. Byrne
Attorney
Christopher J. Byrne, PLLC

Mr. Byrne has been practicing in the field of international taxation and cross-border estate planning as a Certified Public Accountant and as an Attorney at Law for over 25 years.

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K. Eli Akhavan
Partner
Grant Herrmann Schwartz & Klinger, LLP

Mr. Akhavan focuses his practice on tax and estate planning for high-net-worth US and non-US clients. He advises domestic and international individuals and families with respect to tax and estate planning for their US assets and beneficiaries. Mr. Akhavan also advises cross-border clients on all aspects of international estate matters, including foreign trusts, pre-immigration and expatriation planning, and on planning for the purchase of US residential and investment real property. He has considerable knowledge of the reporting requirements applicable with respect to foreign financial accounts and assets and with respect to FATCA and its global equivalent, the Common Reporting Standards (CRS). Mr. Akhavan's practice includes advising clients on the formation of private trust companies for purposes of wealth management and privacy.

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Description

Estate planning for mixed nationality couples involves a comprehensive understanding of various rules and regulations to minimize income, estate, and gift taxes for both the U.S. and non-U.S. spouse. Estate planners and advisers must understand current U.S. estate and gift tax rules, applicable tax treaties, and available mechanisms to avoid the adverse consequences of an improperly structured estate plan for mixed nationality couples.

Spouses may have different citizenship and residency status, which can significantly impact the estate plan. When structuring an estate plan and implementing gifts and other transfers, counsel and advisers must consider (1) immigration and tax resident status; (2) joint versus separate ownership of certain U.S. and non-U.S. assets; (3) available techniques to shift the tax burden; and (4) the use of certain types of trusts to minimize taxes.

Estate planning attorneys and tax advisers must also identify tax opportunities and risks for clients, understand the reporting issues that apply to both the U.S. and non-U.S. spouse, recipients of gifts, and the application of estate and gift tax treaties and exceptions.

Listen as our panel of estate planning attorneys experienced in international issues discusses the estate, gift, and generation-skipping transfer tax rules that apply to mixed nationality couples. The panel will also outline planning scenarios and key potential trouble spots and opportunities.

Outline

  1. Estate, gift, and GST tax rules impacting mixed nationality couples
  2. Sample estate planning scenarios
  3. Trouble spots and pitfalls to avoid
  4. Estate and gift tax treaties
  5. Planning opportunities

Benefits

The panel will review these and other key issues:

  • What estate, gift, and generation-skipping transfer tax rules must be considered for mixed nationality couples?
  • How do immigration and resident tax status impact available planning opportunities?
  • What issues arise for joint and separate ownership of assets?
  • What gifting mechanisms are available to shift the tax burden to non-U.S. spouses?
  • What planning is available in light of a lower personal exemption/unified credit for non-U.S. persons?
  • Incorporating estate and gift tax treaty benefits or exceptions into the estate planning strategies

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify which estate, gift, and generation-skipping transfer tax rules apply to mixed U.S./non-U.S. couples
  • Understand key tax reporting issues for U.S. citizens who are recipients of gifts and bequests from nonresident aliens
  • Recognize how the tax rules and reporting apply to different estate planning scenarios involving families and individuals with differing citizenship/resident/alien statuses

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, drafting wills and trust documents, supervising other attorneys or estate planners. Specific knowledge of concepts regarding taxation of foreign investments held by U.S. taxpayers; familiarity with tax treaty provisions.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).