Program updates relating to your area of practice.
MCLE: 1 hour
This seminar was recorded May 19, 2020.
The Modern (and Mobile) Client
Increased ownership of international assets
Record numbers of expatriates
Foreign citizens residing in the U.S.
Income in multiple countries
Roadmap
Preliminary considerations
Purchase of real property outside the U.S.
Holding and transferring real property
Basics of Income Tax
United States Estate Taxation
Of U.S. citizens and residents owning foreign property
Of nonresidents owning U.S. situs property
Planning Opportunities and Pitfalls
Non-citizen spouses and QDOts
Transfers to and from U.S. and foreign trusts
Perfunctory Advice: Plan Ahead
What if Client Already “Lept”?
A Note on Multi-Jurisdictional Practice
Need for Local Co-Counsel
The IRS and U.S. Tax Authority
Purchasing Foreign Real Property
Foreign Bank Account Report (FBAR)
The Dreaded “Foreign Trust” Designation
IRS Form 3520 (and 3520A)
Renting or Selling Foreign Real Property
What Happens After Your Client Buys Foreign Real Property
Estate Taxation of Nonresident Aliens
Resident or Nonresident?
U.S. Income Tax v. Estate Tax Residency
Estate Tax Treaties
U.S. Taxation of Gifts
Non-Citizen Spouses
Estate Planning Considerations
Qualified Domestic Trust (“QDOT”)
Program materials included. Speaker: Alex J. Hemmelgarn, Esq. Recorded May 19, 2020. MCLE Credit: 1 hour
San Fernando Valley Bar Association (#451)
Pasadena Bar Association (#531)