The number of non-citizens in the US has quadrupled since 1965. Studies show that non-citizensn in the US reached a record 44 million in 2017.
While you might find it pleasing to relocate to the country to look for work or to live, challenges arise once you decide to plan your estate.
As a non-citizen, the country permits you to buy and own properties, and pass them on to your family when you pass away. This is why it is vital to protect it for your loved ones.
While you have the right to use the same tools for estate planning akin to other citizens, the laws that apply to you vary slightly. This means that if you fail to handle your estate plan the right way, you will end up paying higher taxes than the citizens or end up having the estate tied up in court for a long time.
This is why it is essential to consult an estate planning lawyer to make sure the plan you come up with is all-inclusive, and it follows the set rules.
Here are a few tips to make you handle your estate plan the right way.
Define Your Domicile
You are considered to be domiciled in the country if you plan to live in the US without any intention of going back to your country of origin.
To this end, you need to state the duration you wish to stay in the country, your green card status, ties to other countries, business interests, and any locations where you are affiliated.
Appoint an Attorney
Since your family might be in a far-off country, you must have an estate planning lawyer to assist with the process. The lawyer advises you on the steps to take and when to perform these tasks so that you uphold your status in the country.
Appoint a Healthcare Proxy
The minute you become debilitated and incapable of making decisions, you ought to have somebody to make medical judgments on your behalf. The person you choose will have the right to your medical info and the authority to talk to the doctors for you.
Have an Advance Directive
The advance healthcare directive is an order that tells the attending physician what to do when you are debilitated and cannot communicate your wishes.
The doctor uses the document to confirm your wishes regarding therapeutic procedures that they might use to prolong your lifespan.
Some people argue that the directive is similar to a proxy, but it is prudent to have both of them because each has its unique role.
Plan for Your Final Rites
Write down the details of what happens when you pass on. Your demise is an emotional period for your loved ones, but if you have a brief that tells them your specific wishes during the funeral, it makes things easy for them,
With enough money, you can buy a plot in a cemetery. When you do, don’t forget to include this in the will.If the state doesn’t have this provision, then make things clear about what needs to be done when you pass on – regarding your burial and funeral. Leave the document with someone that you trust, and then ask them to present it to the executor when you become deceased.
Have a Will
While we recommend that you transfer your properties to your heirs through a trust, it is still vital that you come up with a will.
The document identifies who will inherit what and also name a guardian if you have minors. It also appoints an executor to manage the estate and allocation process.
Ensure you prepare the will in line with what your estate planning lawyer tells you. Document all aspects of the estate and then have witnesses to countersign the document.
Create a Trust
You must consider establishing a trust. Once you decide to set up one, you have four types that you can opt for:
- Living trust
- Revocable trust
- Irrevocable
- Testamentary
You establish a living trust when you are still alive; then, your family can come up with a testamentary trust when you pass on.
Having a trust will permit you to manage your estate the right way by use of a trustee. A trust is ideal when you want the estate to be managed the right way.
In Closing
Non-US citizens have a right to settle in the country. With this step come a lot of responsibilities that they need to handle. One of these is setting up the right estate plan for their loved ones. An estate planning lawyer makes it easy for this to happen.
