WHAT HAPPENS WHEN A FOREIGNER DIES WITH US ASSETS AND NO BENEFICIARY?
When a foreigner dies with US assets and no beneficiary, a probate court case is needed in Miami Beach, FL, and anywhere else that person owned real estate, investments, and other assets without paid on death beneficiaries. A foreigner, a citizen, and a resident may all be affected by taxes in different ways. For foreigners, some treaties share in the tax burden and there are other complicated rules where a tax professional is required.
WHAT HAPPENS IF A FOREIGNER HAS A WILL IN ANOTHER COUNTRY?
If a foreigner has a will in another country, it must be translated and authenticated in the country of origin. The same with a death certificate and other supporting documents. If a probate has been done in the country of origin, an ancillary probate must be done in each additional country where assets exist and a set of authenticated documents from the original probate will be required.
HOW CAN WE PREVENT A PROBATE?
Probate can be prevented by doing a proper estate plan with a revocable trust and properly funding that trust. In the case where a bank account exists, a beneficiary can be chosen and their name or names provided or a revocable trust can be created and the bank account can be placed into the trust. In both cases, probate court involvement would not be needed.
WHY SHOULD YOU USE ALLY M. GLASER, PA TO HANDLE YOUR WILLS AND TRUSTS, ESTATE PLANNING IN MIAMI BEACH AND MIAMI-DADE AND BROWARD PROBATE MATTERS?
As a Miami Beach Estate Planning, Wills and Trusts and Probate Attorney in Miami Beach with over twenty-three years of experience and both a Psychology and Law degree, I handle these matters with care and sensitivity. I am familiar and comfortable with both the Broward County and Miami-Dade probate court system and know how to get things done. Call or email me today to discuss your Estate Planning, Wills and Trusts and Broward or Miami-Dade County Probate matters. I am happy to help you and your loved ones.