Foreign National Planning
Foreign Nationals face a very complex set of obstacles in estate and wealth planning when dealing with the United States. Additionally, the rules change depending upon resident or non-resident status which is not as clear cut a distinction as many expect, and in many cases depends upon beneficiaries as much as the client himself. In many cases, a client has done extensive planning to keep his wealth out of the United States and thus free of the United States Estate Tax, only to find that all of his assets are subject to a punitive “Throwback Tax” including compounded interest and penalties that over time can equal or exceed the entire estate.
Copperstone Partners has extensive experience in structuring Foreign National Estate Plans to minimize or eliminate the effects of punitive tax treatment. Most firms in the U.S. are unfamiliar with how to procure life insurance for Foreign Nationals and the international tax laws that one must navigate. If done incorrectly, the end results can be disastrous from a tax perspective. Copperstone Partners has been working in the international marketplace for over a decade and has extensive experience in procuring and structuring Foreign National insurance.
Each country has specific laws that change the face of the insurance industry with respect to that nation. By intimately understanding these laws, Copperstone Partners is able to uniquely assist Foreign National clients in advantageously structuring policies whether for death benefit and estate purposes or those seeking to take advantage of the policy benefits during their lifetime. When structured correctly, Foreign Nationals may set up these policies as investment vehicles in which the underlying cash values are protected from principal loss and will grow without income tax or capital gains tax (under U.S. tax law). They can also access the cash values without tax and enjoy the funds during their lifetime. Ultimately, the policy will pay a death benefit which will help shift wealth (income tax free) to future generations in an asset-protected environment.
Copperstone Partners has been working in the Foreign Nationals marketplace for over a decade. To add to our knowledge, we have a network of accounting and law firms in various countries from Mexico City to Switzerland that rely on us for our expertise in this niche and who continue to help us stay current on all changing laws in the international community.
Please call us at 888 773 6787 to discuss how a U.S. based life insurance structure may greatly enhance your financial planning.