Essential Questions to Ask Cross-Border Professionals

When you meet your cross-border professionals, make sure to ask them the following questions:

(Questions arranged by topics)

U.S. Investment Accounts

  1. Ask your investment advisor: How are my U.S. investment accounts treated under both U.S. and Israeli law, and what should I consider in the event of my incapacity or death?
  2. Ask your lawyer: Are there specific legal considerations or documents I need to prepare for my U.S. investment accounts as part of my estate plan?
  3. Ask your accountant (both Israeli and American): What are the tax implications for dual citizen American-Israelis inheriting U.S. investment accounts?

Implications for Israeli Residents

  1. Ask your investment advisor: How do current Israeli laws affect my U.S. investments?
  2. Ask your lawyer: What legal strategies should I consider in order to better navigate the estate and inheritance laws affecting Israelis with U.S. assets?
  3. Ask your accountant: How can I minimize the potential tax burden for my heirs under the current Israeli tax laws?

Estate Planning Integration

  1. Ask your investment advisor: What strategies are most beneficial for integrating my U.S. investments into my overall estate plan?
  2. Ask your lawyer: How should my U.S. and Israeli assets be structured to achieve my estate planning goals?
  3. Ask your accountant: Are there tax-efficient strategies that can be applied to my estate plan considering my U.S. and Israeli assets?

Advisor Coordination

  1. Ask your investment advisor: What information do you need from my other advisors to ensure a comprehensive approach to my estate planning?
  2. Ask your lawyer: How often should we update my estate documents to reflect changes in laws and personal circumstances?
  3. Ask your accountant: How should we coordinate to keep track of changes in tax laws that might affect my estate plan?

Succession and Beneficiary Designations

  1. Ask your investment advisor: Are my beneficiary designations up to date and aligned with my overall estate planning intentions?
  2. Ask your lawyer: What legal steps are necessary to ensure my wishes are carried out smoothly regarding my U.S. investment accounts?
  3. Ask your accountant: What are the tax considerations for my beneficiaries under my current beneficiary designations?

Handling International Taxation and Compliance

  1. Ask your investment advisor: What are the implications of political or economic changes in the U.S. or Israel on my U.S. investment accounts? Is there currently pending legislation that if passed might affect my current or proposed strategy?
  2. Ask your investment advisor: How should I adjust my investment strategy in my U.S. accounts to better align with my long-term financial goals as an Israeli citizen?
  3. Ask your investment advisor: Are there specific risks associated with holding U.S. investments that I should be aware of, given my dual citizen status?

Estate Planning for Mixed Nationality Couples

  1. Ask your investment advisor: How should we tailor our investment strategy to support our estate planning goals given our mixed nationality status?
  2. Ask your lawyer: What are the legal considerations and potential challenges in estate planning for couples with different nationalities, particularly with assets in both the U.S. and Israel?
  3. Ask your accountant: How can we effectively manage potential tax liabilities for estates that span multiple jurisdictions.

If you have any questions or need further assistance, reach out. We’re here to support you every step of the way.