As an expatriate, you need to know that you are one of 36 percent of Americans living abroad. Forty percent of expatriates opt for South America and Canada, while 26 percent love Europe.
Working as an expatriate offers unique opportunities. You will have to live in different countries for a large part of your life, which also gives you a world of challenges. However, many people that love this type of life don’t dream of eventually settling down when their time overseas ends.
While they have to learn about different cultures each time, they also face a lot of financial challenges while in the field.
One of the top issues that they face is to do with estate planning. These people don’t know whether they will transfer their assets back to the US or leave them there. This is why it is a good idea to plan your estate while you are still in the country rather than in a foreign land.
Let us look at the different issues that arise when it comes to expatriate estate planning.