Now About that Chalet in Grenoble? - International Estate Planning
You just took a call from your clent, a U.S. citizen, who was equal parts confused and concerned. His mother died and left him a ski chalet and bank account in Grenoble, France. What are the implications? Which country's tax and inheritance laws apply? How do you advise your client?
International estate planning issues arise in a wide range of situations. Perhaps your client is one of the more than 20 million non-U.S. citizens who live in the United States. Perhaps she is the beneficiary of a foreign trust or wants to name foreign beneficiaries, trustees or executors in her own estate plan. She may even be a U.S. citizen who owns that chalet and bank account in France.