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International estate planning for US–Australia cross-border clients

Published on 01 Apr 20 by "THE TAX SPECIALIST" JOURNAL ARTICLE

Cross-border private clients have very specific estate planning needs, requiring consideration of not just their individual circumstances, but also their domicile (which can differ to their country of citizenship) and the differing income, estate, gift and inheritance taxes of two or more countries. Add to that, the interplay of factors such as international tax treaties, foreign tax credits, and the need to identify, preserve and distribute the estate in each jurisdiction, which can create a complex maze that practitioners need to guide their clients through.

Author profiles

Renuka Somers CTA
Renuka is the Senior Tax Advisor in the US-Australia Tax Desk at Asena Advisors in the US, and a consultant at HWL Ebsworth Lawyers, Australia. Her principal areas of practice are: US-Australia cross-border structuring, Australian federal taxes (income tax, mergers and acquisitions, CGT, Div 7A and tax consolidation), trusts and international estate planning for high wealth clients. She has written numerous articles for the Taxation in Australia and The Tax Specialist journals on these topics. Renuka has worked in large Australian law firms and international accounting firms, and has also served as a volunteer executive board member for a prominent Australian health promotion charity. - Current at 20 April 2020
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Lori Epstein
Lori is the President of Lori EpsteinConsulting Group.

 

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