Think before you leap
Melvin A Warshaw and David Lesperance stress the importance of asking US clients about their green card background
Key points
What is the issue?
Advising foreign clients to obtain or relinquish permanent legal residence (known as a green card) without consulting a US immigration and tax expert can result in catastrophic financial results that decimate a family’s wealth.
What does it mean for me?
Practitioners should forge close working relationships with US immigration and tax experts before their foreign clients embark on obtaining, or early on after obtaining, a green card before the onset of the exit and inheritance tax regimes in the US.
What can I take away?
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