Seminar ID: 110678

Initial Estate Planning Considerations for Dual Residents

Initial Estate Planning Considerations for Dual Residents

Understand the issues that dual resident clients are faced with during the estate planning process.

Once it is determined that the client is a dual resident, the next step is to understand that the legal systems in which the dual resident’s heirs reside and/or the assets are located may have restrictions, or control over asset disposition or trust recognition, that can cause even a basic estate plan and the achievement of its essential goals to become totally ineffective. A basic U.S. estate plan is generally centered around two estate planning documents: a last will and testament and a revocable trust. This white paper reviews these documents and the options within those documents and discusses how to determine governing law that governs the property involved.