[quote=Jazzman] If you are non-US domiciled ie born elsewhere be wary of the consequences in your country of domicile. In many places domicile is very hard to shake off, and many countries don’t recognize trusts. Could cause problems down the road. Local attorneys won’t have the expertise to advise on this.[/quote]
This is an EXCELLENT point Jazzman. Although I’m American born and raised. I’ve lived in a few countries and have permanent residency status in other countries where I own assets and properties. And you’re right…many times they don’t recognize wills from the USA. In those countries, I was advised to do a separate last will and testament or trust in that country as well.
It’s always a great idea to consult a skilled attorney. I know sometimes people try to save money but in the end you can cost yourself a lot of money if you don’t structure things properly.
