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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

    Monday, December 9, 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.

$297.00
CLE
CPE
ALL

This CLE/CPE webinar will provide tax counsel and estate planners a comprehensive guide to estate planning tax challenges and opportunities for clients with a tax presence in both the U.S. and Mexico. The panel will discuss the tax law provisions governing tax and fiduciary rules in both Mexico and the U.S. The webinar will focus on the U.S. tax and other consequences for Mexican clients with a U.S. tax presence and U.S. taxpayers who own or plan to invest in Mexico-situs real estate and other assets.

Faculty

Cynthia D. Brittain
Partner
Holland & Knight LLP

Ms. Brittain is a private wealth services attorney in Holland & Knight's Century City and Newport Beach offices. She works closely with private clients in the U.S. and around the world, designing efficient strategies that maximize tax benefits for individuals and their companies while meeting personal wealth transfer and business succession needs. Ms. Brittain has decades of experience advising high-net-worth and ultra-high-net-worth individuals and families on domestic and international income and estate tax planning strategies and philanthropic endeavors. Her practice offers significant cross-border experience for families whose members are multinational and whose companies have a global footprint. Ms. Brittain helps clients navigate complex issues relevant to international and domestic wealth and asset transfers. She also assists with pre-immigration planning and international corporate tax matters, leveraging her extensive experience with the cross-border regulatory laws that affect planning and compliance. Ms. Brittain is frequently sought out by international private clients and their advisory teams in urgent, high-stakes situations to help mitigate legal and reputational risk.

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Eugenio Grageda
Partner
Holland & Knight LLP

Mr. Grageda is a tax attorney who focuses his practice on international aspects of taxation, covering both corporate and private client tax matters. In the corporate field, he is focused on providing tax consultation services over any type of corporate transaction, investment structure or financial instrument, at a domestic and international level. In the private client space, Mr. Grageda provides estate and succession tax planning and tax compliance assistance to individuals and families with international connections.

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Description

Many U.S. citizens and permanent residents have property interests in Mexico and vice-versa. Estate planning counsel and advisers must identify the tax and wealth transfer planning rules and opportunities specific to U.S. and Mexico citizens with assets and presence in both countries.

Mexico law has neither an estate tax nor the same property regimes. At the time of marriage, spouses must indicate whether the marriage entails joint or separate property treatment and this election can take precedence over an asset's title.

In many cases, donations, inheritances or transfers through trusts of Mexico-situs property to non-Mexican taxpayers is a taxable transaction requiring a tax payment in Mexico. Tax advisers to U.S. citizens with a tax presence in Mexico must ensure that U.S. and Mexico wills, trusts, and transfer provisions are appropriately coordinated to avoid costly tax consequences.

Mexico law also imposes restrictions on ownership of real property by non-Mexico citizens in specified locations. Particularly, U.S. taxpayers contemplating property purchases in border lines of Mexico or transfers of covered Mexico property must be aware of certain requirements.

Listen as our experienced panel provides guidance on planning the estates of clients with U.S. and Mexico tax presence, including interests in business entities, real estate, and financial accounts. The panel will cover the legal and tax considerations when planning for the disposition of each type of asset.

Outline

  1. U.S. estate tax considerations for Mexico citizens qualifying as U.S. taxpayers
  2. Mexico wealth transfer regime
    1. No estate tax
    2. Treatment of joint property held with spouse
    3. When gifts or inheritances are treated as taxable income
    4. Cross-border ownership treatment
  3. Mexico residence and sourcing rules
  4. Ownership of Mexico real estate by non-Mexico citizens
    1. Restricted areas
    2. Fideicomisos: Mexican bank real estate trusts
    3. Restrictions
  5. Coordinating a Mexican will with U.S. will and trust documents
  6. Filing and reporting requirements; deadlines

Benefits

The panel will review these and other relevant topics:

  • What considerations impact U.S. taxpayers wishing to hold real estate or shares in Mexico?
  • Coordinating U.S. estate plan with Mexico wills and trusts
  • Treatment of inheritance of Mexico-situs property
  • Differences in U.S. and Mexico residency rules for purposes of sourcing taxable income

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Distinguish between U.S. estate tax rules and Mexico law treatment of inheritances and gifts as taxable
  • Discern Mexico law sourcing of income based on residence of taxpayer and type of income
  • Recognize restrictions and structures for foreign taxpayers to purchase real estate in Mexico
  • Determine how to best coordinate a Mexican will with existing U.S. estate planning documents and structures

  • 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.