Death

As the world becomes more of a global community, it is no longer uncommon for married couples to maintain different citizenships. While a difference in citizenship alone can present complexities from an everyday tax perspective, another set of challenges arises when a noncitizen spouse separates from the US spouse, returns to live in the noncitizen spouse’s home country, and then passes away. What are some of the issues you need to be aware of?

Choice of Law

One of the first questions that must be answered is which country’s laws will apply with respect to inheritance, division of property, child custody, and taxation. Depending on the noncitizen spouse’s country of residence at death, there can be very different legal consequences for owning property at death. Some countries have treaties with the United States that attempt to bring clarity to tax liability issues and division of property at the death of an individual who is married to a noncitizen.
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The death of an iconic figure can sometimes impact us deeply because it reminds us of our shared humanity. With a celebrity’s passing, we realize that death is an equalizer. It also reminds us of the importance of estate planning to protect a person's money and property. Estate planning is not reserved for those with large amounts of wealth or larger-than-life personalities. Life’s difficulties challenge all of us regardless of our relative fame or obscurity.
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The death of a loved one can be one of the most disorienting life events. But if the loved one dies while traveling in a foreign country, the emotional and bureaucratic burdens can multiply exponentially.

Contact the United States Bureau of Consular Affairs

If foreign local authorities report a death to a US embassy or consulate, the United States Bureau of Consular Affairs located in that country will attempt to identify and contact the next of kin of the deceased US citizen. In many cases, an individual who dies abroad is traveling with friends or family, who will contact the deceased’s family back in the United States. But even if you first learn of your loved one’s death through friends and family, you should still contact the Bureau of Consular Affairs in the country where your loved one died.

The death of a minor child is one of the greatest shocks that life can deliver. No one can ever prepare for the cascade of challenges that will come with such an event. Not only are there legal and financial challenges that you must deal with, but all of these challenges come at a time of deep emotional crisis. Nevertheless, help is out there, and the resources available can go a long way to help ease the burdens that you and your loved ones will face during this terrible time.

Much has been written about the emotional, spiritual, and mental challenges that you will face when a child passes away and how you can navigate these challenges.
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“That’s not fair!” In many households, this is the common refrain of children as they advocate for themselves or express what they feel to be unjust. This pursuit of fairness, however, is not limited to arguments between parents and young children.

The notion of fairness often pervades family dynamics and may continue even beyond death when decisions about dividing accounts and property arise. The law has attempted to address different notions of fairness with a variety of distribution strategies. Per stirpes, by representation, and per capita are key terms in wills and trust agreements that specify the way money and property are to be equitably divided.
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A properly funded trust allows you to avoid probate, minimize taxes, provides organization, maintains control, and provides for yourself and your heirs. In its most simple terms, a trust is a book of instructions wherein you tell your trusted people what to do, when.

While there are many types of trusts, the major distinction between trusts is whether they are revocable or irrevocable. Let us take a look at both so you will have the information you need:

Revocable Trust. A revocable trust is also known as a “living trust” because it can benefit you during your lifetime and you can change or cancel it if your circumstances or goals change.
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It can be hard to get motivated about your estate planning; it sounds about as fun as getting a root canal. However, you also probably want to make sure that your loved ones are protected and receive your hard-earned money and property – regardless of whether you have $10 million or $10,000.

Do not let these common roadblocks stop you from protecting yourself and your loved ones:

1. Who Wants to Talk About Death?Discussions of death, dying, and illness - money and family - will and trusts - make many folks uncomfortable. Of course, that is normal.But, do not let a few minutes of feeling uncomfortable stop you from taking care of yourself and your loved ones.
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Confused about the differences between a will and a trust?  If so, you are not alone. While it is always wise to contact experts like us, it is also important to understand the basics. Here is a quick and simple reference guide:

What a Revocable Living Trust Can Do – That a Will Cannot

• ●Avoid conservatorship and guardianship. A revocable living trust allows you to name your spouse, partner, child, or other trusted person to manage your money and property, that has been properly transferred to the trust, should you become unable to manage your own affairs. A will only becomes effective when you die, so a will is useless in avoiding conservatorship and guardianship proceedings during your life.
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Disaster Preparedness Month: How to Prepare for Whatever May Come Your Way

The unpredictable can occur at any time: fires, hurricanes, floods, earthquakes, pandemics—you name it. Because September is National Disaster Preparedness Month, we want you to be prepared for whatever life throws at you. Although none of us can predict the future, there are some things you can do to ensure that you and your family are ready. Here are a few questions to consider to help protect the people and possessions you value most.

1. Are your documents secure? When trouble occurs, your documents must be ready.
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Although it is rare for anyone to look forward to the passing of a loved one, many people cannot help wondering about a future inheritance. Often when a person dies and leaves money or property to heirs or beneficiaries, the first thing the heirs or beneficiaries want to know is the overall value of the estate. If the executor or the trustee (the person or entity in charge of handling the final affairs of a deceased person) shares that information, as is typically required, it can be tempting for heirs or beneficiaries to immediately do some quick mental math to estimate how much they will receive. With that number in mind, they may begin mentally spending the anticipated inheritance on things that have always been a little out of reach.

Allowing an heir or beneficiary to mentally spend an inheritance before receipt can be dangerous.
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Ask a group of friends if they have experienced a family fight over property after a loved one has died, and you will be in for a lively and eye-opening conversation. Far too many families end up fighting, or at least experiencing tension, over a family inheritance. But it does not have to be that way. Many families have worked through the details of divvying up a deceased loved one’s property remarkably well and ended up even closer. Having counseled families for years, we offer the following pearls of wisdom to help your family avoid fighting over your property when you are gone:

1. Be open and communicate with family members and loved ones.
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