Estate and Asset Protection for the Resident Alien: A Case Study (Part II)

Taylor, Nigel Ryan
June 1996
Journal of Financial Planning;Jun96, Vol. 9 Issue 3, p68
Academic Journal
This article focuses on domestic and foreign asset protection in light of the case involving British citizens Steven and Jennifer Dawes, who were domiciled in California. It makes it clear that this case study does not present one firm solution to estate planning for the resident alien. Estate planning demands that clients face, often for the first time, their own mortality, their relationships (or lack thereof) with their relatives, and the material wealth they have accumulated over a lifetime. Therefore, it is essential to offer alternative techniques and solutions in the full realization that certain decisions will not be based upon their usefulness as an estate or asset protection vehicle. Establishing domicile is the first step in identifying potential problems that Dawes can face under U.S. estate, gift and generation-skipping tax regulations. These regulations apply to legal, as well as illegal, U.S. residents who are domiciled in the United States at the time of their death.


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