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Wealth Advisor Insights


Inbound Wealth Planning for the Global Family

Learn tax considerations that impact families immigrating to/from the United States, an examination of citizenship as it impacts wealth planning.

> Download the white paper [PDF]

The United States receives more foreign direct investment than any other country in the world, including $236.3 billion in 2013 alone, and reached $2.9 trillion at the end of 2014. At the end of the 2014 academic year, an estimated 886,000 foreign students studied in the United States, an increase of seven percent from the prior year, and the seventh consecutive year with an increase.

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 a new 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:

  • Discussion related to the jurisdictional reach of the U.S. Federal tax system
  • The impact of U.S. income and estate taxation
  • How the U.S. estate, gift and generation-skipping transfer (GST) tax system (otherwise known as the U.S. transfer tax) operates
  • An examination of the test for U.S. domicile
  • Pre-immigration and expatriation planning
  • Understanding U.S. transfer tax and the non-U.S. citizen spouse
  • Compliance reporting guidelines

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 or Suzanne Shier, Wealth Planning Practice Executive and Chief Tax Strategist/Tax Counsel at 312-557-8396.

The opinions expressed here are those of the authors and do not necessarily reflect those of the Northern Trust Corporation or its subsidiaries. The information has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Any opinions expressed herein are subject to change at any time without notice. Any person relying upon this information shall be solely responsible for the consequences of such reliance.
IRS CIRCULAR 230 NOTICE: To the extent that this communication or any attachment concerns tax matters, it is not intended to be used, and cannot be used by a taxpayer, for the purpose of avoiding penalties that may be imposed by law. For more information about this notice, see