Many Americans dream of retiring abroad, but few realize the tax implications involved.

In this episode, Adam Scott, CFP®, explains what it really means to expatriate, the financial consequences of renouncing U.S. citizenship, and how couples can strategically plan to reduce taxes. He also discusses potential pitfalls, from exit taxes to inheritance issues, and offers advice on when living abroad makes both financial and emotional sense.

Adam also examines the process and costs of expatriation, strategies to stay below U.S. tax limits, and highlights where moving abroad can actually benefit retirees and entrepreneurs.

Key Takeaways:

The only way to completely eliminate U.S. taxes is by giving up citizenship or a green card
Expatriating triggers an “exit tax” if your net worth exceeds $2 million per person or $200,000 in annual tax liability
Couples can plan strategically by transferring assets to stay below the taxable threshold
Moving to Puerto Rico can significantly reduce federal taxes for those still earning income
Expatriation decisions should be driven by lifestyle, not just tax savings, and require professional cross-border tax guidance
And more!

Connect with Adam Scott, CFP®: 

LinkedIn: Adam Scott
LinkedIn: WellAcre Wealth
WellAcreWealth.com
Phone: 310-220-4946

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