Foreign Nationals Don’t Have the Home Field Advantage When it Comes to Dealing with IRS

We have witnessed the power of globalization – families are becoming more international, and many of those families have ties to the United States. It’s not a surprise that multicultural markets are the fastest-growing groups in the U.S. life insurance industry¹. However, when we work with foreign nationals, we need to keep in mind that under current U.S. tax law, estate planning can create some specific complications for those families. In order to provide assistance to multinational families with wealth transfer, basic knowledge of the tax rules associated with cross-border interests is critical.