Properly managing international assets in an estate plan is crucial to ensure all possessions are accounted for after your passing. Based in Las Vegas, estate planning attorney Sarah Ocampo shares valuable insights on this important topic.
When crafting an estate plan, it's vital to consider all domestic and international assets.
International assets pose unique challenges since U.S. jurisdiction only extends within its borders, requiring different handling than domestic assets.
Here are the steps one should take to handle international assets:
1. Find a Local Attorney
Seek legal expertise from an attorney in the country where your international assets are located. They understand local laws and can guide you through incorporating these assets into your estate plan.
2. Learn the Laws
Property and inheritance laws vary by country. Some may be similar to U.S. laws, while others could be significantly different.
A local attorney can explain these laws and how they impact your estate planning.
3. Make a Plan
With a clear understanding of local laws, create a plan to manage your international assets. This might involve drafting new legal documents, such as a will or trust, according to the laws of the country where the assets reside.
Following these steps ensures that all your assets, regardless of location, are included in your estate plan. If you have questions about estate planning or need assistance, contact our office or visit our website to schedule a 15-minute consultation.
These actions provide peace of mind, knowing your international assets will be managed properly and your loved ones will be cared for.
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