Living on the east side of Manhattan, it’s hard for me to fail to notice when the United Nations Assembly is in town for its annual meeting in September. Multiple streets are closed (even to foot traffic), crossing the street is like navigating a maze created by idling cars and the sound of honking horns is a constant refrain as I go about my days. But, given the need for countries to work together to try to solve the many international problems we face, these inconveniences seem like a small price to pay.
Estate-planning attorneys may also find it hard to ignore the international issues that come up in their practices. For example, clients may have property or other assets in another country or family members who reside in another country. Or, they may receive gifts from relatives who live outside the United States or distributions from foreign trusts. It’s also possible for practitioners to be approached by the surviving members of a foreign decedent’s family to deal with the administration of U.S. assets. Given the many ways international issues can impact clients, planners should at least familiarize themselves with the laws of other countries and how they interact with U.S. laws. A good place to start is our International Practice Committee Report. To get an overview of what’s happening in countries other than the United States, take a look at “Advising Private Clients Around the World,” p. 49, compiled by Barbara R. Hauser. Other article topics include probate strategies for non-citizens and a round-up of important cases in the international arena.
Finally, I’d like to welcome our new editorial advisory board member, Todd Steinberg of Loeb & Loeb, LLP, who will serve on the Insurance Committee.
Read the issue here.