A podcast dedicated to helping ambitious expatriates and first generation immigrants thrive in America. 𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 is brought to you by Plan First Wealth, a lifestyle financial planning and cross-border wealth management firm helping successful American and international families make the most of their opportunity.Being an immigrant to America should be a wonderful, life-changing opportunity. But it can also be extremely challenging, accompanied by some unique and idiosyncratic rules and regulations.Our mission & purpose is to help fellow expats and immigrants thrive in America.We believe that this can be achieved, in large part, by avoiding the expat landmines that can trip them up and by taking advantage of all available opportunities. 𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 consists of 3 different show formats:𝘼𝙨𝙠 𝘼𝙣 𝙀𝙭𝙥𝙚𝙧𝙩 will tap into host Richard Taylor's network and bring subject matter experts - professionals in the cross-border advisory space - on to highlight some of the challenges and also opportunities that accompany being an expatriate in the US.𝙁𝙧𝙤𝙢 𝙏𝙝𝙚 𝙏𝙧𝙚𝙣𝙘𝙝𝙚𝙨 where Richard and colleague James Boyle will bring you their take on what's going on in the world, in their business and in their lives. 𝘼𝙡𝙬𝙖𝙮𝙨 𝘼𝙣 𝙀𝙭𝙥𝙖𝙩 is a show where we bring in an interesting expat to talk about their experience moving to and living in America.
We're The Brits In America is affiliated with Plan First Wealth LLC, an SEC-registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
The information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
All content for We're The Brits In America is the property of Richard Taylor and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
A podcast dedicated to helping ambitious expatriates and first generation immigrants thrive in America. 𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 is brought to you by Plan First Wealth, a lifestyle financial planning and cross-border wealth management firm helping successful American and international families make the most of their opportunity.Being an immigrant to America should be a wonderful, life-changing opportunity. But it can also be extremely challenging, accompanied by some unique and idiosyncratic rules and regulations.Our mission & purpose is to help fellow expats and immigrants thrive in America.We believe that this can be achieved, in large part, by avoiding the expat landmines that can trip them up and by taking advantage of all available opportunities. 𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 consists of 3 different show formats:𝘼𝙨𝙠 𝘼𝙣 𝙀𝙭𝙥𝙚𝙧𝙩 will tap into host Richard Taylor's network and bring subject matter experts - professionals in the cross-border advisory space - on to highlight some of the challenges and also opportunities that accompany being an expatriate in the US.𝙁𝙧𝙤𝙢 𝙏𝙝𝙚 𝙏𝙧𝙚𝙣𝙘𝙝𝙚𝙨 where Richard and colleague James Boyle will bring you their take on what's going on in the world, in their business and in their lives. 𝘼𝙡𝙬𝙖𝙮𝙨 𝘼𝙣 𝙀𝙭𝙥𝙖𝙩 is a show where we bring in an interesting expat to talk about their experience moving to and living in America.
We're The Brits In America is affiliated with Plan First Wealth LLC, an SEC-registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
The information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
56. Losing Someone is Hard and Navigating Cross-Border Inheritance Taxes Doesn’t Have to Be: How to Avoid Costly Mistakes | From The Trenches with James Boyle
We're The Brits In America
37 minutes
2 months ago
56. Losing Someone is Hard and Navigating Cross-Border Inheritance Taxes Doesn’t Have to Be: How to Avoid Costly Mistakes | From The Trenches with James Boyle
The intricacies of inheritance tax issues are probably the last thing you want to think about after losing someone. We’re making it easier to make financial arrangements for receiving an inheritance after a loved one passes away on this episode of We’re the Brits in America.
Host Richard Taylor - dual UK/US citizen and Chartered Financial Planner - offers practical advice for expats on navigating these challenges to promote financial security and compliance, including how to avoid the potential pitfalls of Roth IRA conversions.
In this episode of From the Trenches on We’re the Brits in America, Richard Taylor and James Boyle – Lead Financial Planner at Plan First Wealth - explore:
Navigating Inheritance for Expats
Challenges when receiving an inheritance from non-US
persons.
The crucial importance of filing Form 3520 to avoid severe
IRS penalties.
Complications with Trusts and Offshore Bonds
Issues with UK-centric advice for US persons.
Potential tax problems with foreign trusts and passive
foreign investment companies (PFICs).
Roth IRA Conversions
Explanation of Roth IRA conversions and their benefits.
Potential pitfalls like affecting healthcare premiums and
tax brackets.
New considerations following recent legislative changes.
Importance of a Cross-Border Tax Advisor
Benefits of having a qualified tax advisor to navigate
international tax intricacies and offer valuable US tax help.
More about We’re the Brits in America:
With the right financial advice, landmines that threaten expat wealth can be avoided. Often encountered by US-connected expats, these financial landmines are more numerous, more hazardous, and less understood than almost anywhere else in the world. As a result, non-cross border professionals, wealth advisors, and even international advisors are often unaware of them. But don’t worry, We're the Brits in America has you covered. We're the Brits in America is dedicated to helping ambitious U.S.-connected expats and immigrants navigate those challenges — and thrive. Whether you’ve moved to the U.S. for opportunity, or are an American seeking adventure and growth abroad, our job is to equip you with the tools and insights you need to succeed.
We're The Brits In America
A podcast dedicated to helping ambitious expatriates and first generation immigrants thrive in America. 𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 is brought to you by Plan First Wealth, a lifestyle financial planning and cross-border wealth management firm helping successful American and international families make the most of their opportunity.Being an immigrant to America should be a wonderful, life-changing opportunity. But it can also be extremely challenging, accompanied by some unique and idiosyncratic rules and regulations.Our mission & purpose is to help fellow expats and immigrants thrive in America.We believe that this can be achieved, in large part, by avoiding the expat landmines that can trip them up and by taking advantage of all available opportunities. 𝗪𝗲'𝗿𝗲 𝗧𝗵𝗲 𝗕𝗿𝗶𝘁𝘀 𝗜𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 consists of 3 different show formats:𝘼𝙨𝙠 𝘼𝙣 𝙀𝙭𝙥𝙚𝙧𝙩 will tap into host Richard Taylor's network and bring subject matter experts - professionals in the cross-border advisory space - on to highlight some of the challenges and also opportunities that accompany being an expatriate in the US.𝙁𝙧𝙤𝙢 𝙏𝙝𝙚 𝙏𝙧𝙚𝙣𝙘𝙝𝙚𝙨 where Richard and colleague James Boyle will bring you their take on what's going on in the world, in their business and in their lives. 𝘼𝙡𝙬𝙖𝙮𝙨 𝘼𝙣 𝙀𝙭𝙥𝙖𝙩 is a show where we bring in an interesting expat to talk about their experience moving to and living in America.
We're The Brits In America is affiliated with Plan First Wealth LLC, an SEC-registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth.
The information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.
