Seminar B: Thinking of Naming a Foreign Person as a Fiduciary? Think Twice. Beneficiaries Living Abroad? Check Thrice.
Advising Clients Who Want to Name a Foreign Individual as Fiduciary of their Estate Plan or when a Beneficiary Resides Abroad
This session is for Fellows who have wondered if they can name a client’s foreign relative or friend as executor, guardian, trustee, beneficiary or agent. Panelists will discuss practical considerations when clients wish to name a foreign person or resident in their estate planning documents and examine the implications of naming a foreign person as an executor, guardian for minor children or as an agent under a financial Power of Attorney or an Advance Health Care Directive. The seminar will also cover issues and planning considerations when beneficiaries reside abroad and how that may impact a client’s estate plan. Panelists will address pitfalls in drafting, practical advice on when a client should avoid naming a foreign person and tax issues and reporting that can occur if planning is done incorrectly.
Michelle B. Graham
Patrick Francis Harney
Kevin E. Packman
Recorded Friday, March 6, 2020