The United States receives more foreign direct investment than any other country in the world, including $241.3 billion in 2014 alone, and reached $2.9 trillion at the end of 2014. At the end of the 2015 academic year, an estimated 974,926 foreign students studied in the United States, an increase of ten percent from the prior year, and the steepest rise in four years.
With the high traffic of wealth entering and departing the United States, so too is there a growing demand for strategic and effective tax planning. With one of the most aggressive Federal tax systems in the world, only a comprehensive approach to U.S. tax management and effective planning for inbound wealth can reduce this weighty burden.
Northern Trust is committed to collaborating with clients and their advisors to develop and implement effective wealth management strategies, no matter where they are in the world. We are pleased to share our paper, Inbound Wealth Planning for the Global Family. Our paper explores the intricacies and nuances of tax considerations that impact families immigrating to/from the United States, an examination of citizenship as it impacts wealth planning and how to steward wealth across borders in a tax-efficient manner as a U.S. citizen.
To help navigate shifting legislative events and planning needs, clients would do well to have a firm understanding of strategies to approach tax planning, such as:
As the global economy continues to expand, benefitting from heightened international investment and personal mobility, so too does the wealth and tax planning landscape grow. Factoring in global wealth planning before making significant life decisions can help you preserve your wealth, mitigate burdensome tax penalties and make the smoothest transition to your new way of living as possible.
To learn more about Inbound Wealth Planning, read the paper now or call Cindy Brittain, Senior Fiduciary Officer,
at 805-695-7315, Suzanne Shier, Wealth Planning Practice Executive and Chief Tax Strategist/Tax Counsel
at 312-557-8396 or Benjamin J. Lavin, Wealth Planner and Associate Tax Strategist at 312-444-4133.