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International Love Has Its (Legal) Challenges in Virginia

MarriageLove has no borders which may help explain why it's not just the economy that's gone global. To hear estate and tax planners talk, cross-border marriages are skyrocketing—along with a host of international estate and tax-planning headaches.

If you have an international family (and we do now), then you know things can get complicated in a hurry. You are not alone. As the world becomes ever smaller, it logically follows that people of different nationalities will meet and tie the knot. That is when things can get, well knotty.

International marriage can trigger a taxation and estate planning headache.

In fact, an article in The Wall Street Journal reported the following: “All told, nearly five million Americans in 2010 were married to someone who was born in another country, twice as many as in 1960, according to the Minnesota Population Center. Other countries have had similar jumps.”

The article, titled “A Global Love Affair,” observed that these global affairs bridge the invisible lines on the globes between nations and unite loving couples from Russia, the U.S., France, Germany, Canada and places even more exotic – then tie the laws of those same countries into knots.

If you and a loved one are separated by a national barrier,  be wary of  the respective laws of each country and how they may conflict and potentially confound all of your planning. Unfortunately, there are almost as many sad legal stories as there are happy love stories.

You can learn more about this topic as well as other strategies on our website under the tab entitled: estate planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning.

Reference: The Wall Street Journal (May 21, 2013) “A Global Love Affair

 

 

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Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.