We know that securing your family's financial well-being and the planning that goes into this is incredibly important. However many people don't realise the implications when one member of the family is a US person.
The combined effects of US and UK tax and regulation must be taken into account at every stage as you find yourself moving between the US and the UK, acquiring property, business interests or assets in either or both countries. Access to timely, specialist and integrated US/UK tax and estate planning advice is therefore essential and can play a critical role in safeguarding your family's financial position and protecting wealth for future generations.
At Withers we have seen virtually every tax and financial permutation affecting US/UK couples, and have developed tailored estate planning models for them all. Our dedicated and highly specialised US/UK tax and estate planning team has in-depth experience across all the issues that can arise, including:
- International tax and wealth planning
- Pre-immigration tax planning
- Real estate acquisitions and dispositions
- Trusts and family partnerships
- Tax compliance, including voluntary disclosure
- Charitable donations and lifetime gifts
- Regulatory impacts, including FATCA
UK/US estate planning under one roof
We provide our clients with an integrated suite of services, taking into account the combined impact of US and UK regulation in all these areas. We are the only law firm that can offer these services under one roof; meaning we offer joined-up legal advice, led by one point of contact.
Transparency from the beginning
We understand both how important and personal the individual estate planning issues are to you and your family. Our fixed-cost solution offers up-front fee quotations within an agreed timescale, so you can be confident in the service and delivery you will receive
Our range of standardised models we have developed to accommodate the majority of typical US/UK scenarios include:
- the UK couple with US property
- the Brit married to an American who is short term resident in the UK
- the Brit married to an American who is long term resident in the UK
- the US couple who are both long term residents in the UK; and
- the US couple who are short term residents in the UK but looking to return to the US in the long term.
How we can help
The issues that need to be considered in any of these scenarios are different and of course each couple will have their own particular objectives which will need to be factored in. In our experience it is, however, perfectly possible to create efficient and effective estate planning documents that ‘work' in both the UK and the US. And in this ever changing environment where the US gift and estate tax thresholds are likely to change, we seek to provide flexible solutions which can be moulded according to the landscape at the relevant time.
We also understand the importance of being clear about fees and about the scope of work to be done. In a normal scenario we are able to produce US/UK integrated estate planning documents for £6,000 plus VAT.