International Estate Planning for (Future?) Expats

"Make sure you have a trusted adviser who's familiar with the law in both countries who's aware of international Estate Planning and let them know what your your plans are before you purchase any major assets in foreign countries."

- Scott Sweitzer, President, Prime Estate Planning

Join Scott Sweitzer, Esq. of Prime Estate Planning in Washington, DC, as he brings his international passion and focus for a timely conversation about "expats" widely defined as:

• Citizens of one country legally residing (retiring) in a foreign country
• Digital "nomads" who maintain a job virtually
• "Slow" travelers who spend a few months in multiple countries 

In this conversation we answered multiple questions including:

1. Who qualifies as an "expat?"
2. What an “expat” needs to consider when planning their estate
3. What he calls the “Family Business Lawyer™ program
4. How family members plan for administering an estate overseas
5. What he sees as the future of estate planning globally

Jason Howell Company is a family wealth management firm that strengthens the finances of families making the transition from first generation success to family wealth. We envision a world where wealthy families give, grow and govern themselves in ways that enrich their local communities. We do this by reducing the fear, isolation and guilt associated with financial success.

Jason J. Howell, CFP®, CPWA®, CSRIC® and Douglas W. Tees, MBA, CFP® CAP®, CBDA  have spent a lot of time in the Washington, DC area, and are aware that many people who are first generation wealth suffer from a kind of "financial imposter syndrome."  Successful entrepreneurs and family businesses are always looking over their shoulder; government contractors worry about the next contract; former Capitol Hill staffers privately wonder if they should "feel bad" for the money they now make. Imposter syndrome is common among people who work for the many corporate headquarters based in this area as well. These feelings get in the way of properly managing family wealth. We empower them to get organized, build a team of advisors and make decisions.

Our typical "first generation wealth" families include dual income parents who work, save and have just the right amount of fun. For long-time, family owned businesses we focus on much family preservation as we do wealth preservation. 

First generation wealth success stories and family business owners realize that they:

• Need to “do something” with the cash in their checking/savings
• Need to eventually diversify their portfolio away from the family business
• Need an investment strategy for “up” and “down” markets
• Need a plan to mitigate market, credit, inflation, and political risks
• Need to start tax planning instead of just tax paying
• Need to be sure they are choosing the right work benefits
• Need to reduce financial miscommunications between family members
• Need to separate business finances from personal finances
• Need to separate family wealth from individual wealth
• Need a plan to provide space for both family and individual philanthropy 
• Need to plan for money while alive and for what happens after death