Hello again all,
I did a search in this forum on "wills" and the threads all seem pretty old and maybe out of date? Anyway, what do you guys do with regards to setting up wills as expats (with dual citizen kids) in the UK but probably with some assets still in the USA?
From my cursory investigating it seems that we are well below the US Estate Tax threshold, but somewhat above the UK IHT threshold.
Also, I've heard many Brits put their home in a trust to potentially help shield it from health-care costs reconciliation later down the line, but would such a situation have to be reported as a Foreign Trust using the dreaded 3520/3520-A forms each year in the US Tax return?
Any recommendations for a firm to work on will creation in such circumstances and what it might cost?
Am I overthinking this??
Thanks in advance
Tim
