International Families: Estate Planning Essentials for Cross-Border and Multinational Households

For families with international connections, estate planning can present unique challenges. Cross-border assets, differing inheritance laws, and tax implications all require special attention. Here’s a quick guide on how to address the complexities of multinational estate planning.

1. Account for Cross-Border Assets
If you or your spouse hold assets in another country, you’ll need to address these in your estate plan. International assets may be subject to that country’s laws, which may affect inheritance and tax requirements. Work with a legal advisor experienced in cross-border planning to develop an effective strategy.

2. Understand Differing Inheritance Laws
Inheritance laws vary widely, and some countries enforce “forced heirship,” where a portion of the estate must go to specific family members. Knowing how foreign laws interact with U.S. estate planning can help avoid surprises and ensure your intentions are honored.

3. Address Tax Implications
Multinational families may face complex tax obligations, including estate and gift taxes in multiple jurisdictions. Consider consulting a tax advisor to understand how your international status could impact your tax liabilities, ensuring that your estate is optimized.

4. Choose Guardians and Executors Carefully
For families with minors, selecting a guardian who resides in the same country as the child is often essential for practical and legal reasons. Executors also need to understand cross-border complexities, making it important to choose someone equipped to handle these responsibilities.

Working with experts in cross-border estate planning ensures your multinational family’s assets and wishes are protected, wherever in the world they may be.