Clueless

A recent study by Prince and Associates finds that most affluent Western Europeans don't seek tax couseling before coming to the United States. Although 69.7% sought and considered advice on how the income of long-term U.S. residents is taxed, less then one-third were sensitive to the host of o...

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Bibliographic Details
Published in:Trusts & Estates 2003-12, Vol.142 (12), p.74
Main Authors: Prince, Russ Alan, Renn, Edward A, Sanborn, Von E
Format: Article
Language:English
Subjects:
Advisors
Affluence
Estate planning
Estate taxes
Foreign partnerships
Gift taxes
Noncitizens
Polls & surveys
Trusts
Online Access:Get full text
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Summary:A recent study by Prince and Associates finds that most affluent Western Europeans don't seek tax couseling before coming to the United States. Although 69.7% sought and considered advice on how the income of long-term U.S. residents is taxed, less then one-third were sensitive to the host of other issues that could significantly diminish their wealth. They don't seek advice after arriving in the United States either. The adverse consequences of failing to get tax advice after taking up residency and becoming domiciled in the United States are potentially severe.
ISSN:0041-3682