How Remodeling a Client’s Trust Can Retain Assets Under Management while Saving Clients Money

By: Christopher Klug  – International Estate Planning  Attorney, Washington DC It’s a common misconception that clients can take a set-it-and-leave-it approach to trusts. Much as houses or office buildings, even those that were originally well-built, must be remodeled or updated from time to time, a trust-centered estate plan can often benefit from a remodel or refresh. […]

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Tax Cuts and Jobs Act – Tremendous Benefit for Foreign Investment in the United States

by: Christopher Klug – International Tax Attorney,Washington DC In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act.  This new Act contains several significant changes and is the most significant tax legislation in the last 30 years. One of the more significant changes […]

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Who Will Inherit Your Financial Wisdom?

Passing on More Than Just Wealth By: Christopher Klug  – International Estate Planning and  Tax Attorney, Washington DC Many people who inherit wealth or small businesses are at significant risk of essentially squandering the wealth. An Ohio University study shows that an astonishing 33 percent of all beneficiaries lose their entire inheritance within two years of […]

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US Taxation of US Citizens and US Tax Residents Residing Overseas

by: Christopher Klug – International Tax Attorney, Washington DC US citizens and US tax residents (“US Persons”) are taxed in the United States on their worldwide income no matter where in the world they reside.  The US taxes based on citizenship, which is different than almost all other countries in the world that tax based on residence. […]

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The Team Approach to Client Service in 2018 and Beyond

by: Christopher Klug – Washington DC Estate  Planning Lawyer How are you planning to strengthen your client relationships in the new year?  Effective collaboration as a client-service wealth team helps your clients trust you, creates better client retention, and yields greater opportunities for placement of appropriate products and growing assets under management. Estate planning is about […]

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US Tax Rate Cuts Create Great Investing Opportunity for Foreign Investors

by: Christopher Klug  International and Business Tax Attorney, Washington DC In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act.  This new Act contains several significant changes and is the most significant tax legislation in the last 30 years. One of the […]

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Tax Reform: Solutions for Your Clients and Their Estate Planning

by: Christopher Klug  International Estate Planning and  Tax Attorney, Washington DC In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act. This new Act contains several significant changes that will impact your clients and their estate planning. Estate Tax Changes Starting January […]

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Tax Planning for Foreign Investors Investing in Partnerships with Income Effectively Connected to a US Trade or Business

by: Christopher Klug & Gina Jeyoung Lee – Washington DC Tax Law Attorneys A recent US Tax Court case may provide an investment opportunity for foreign investors investing in US partnerships.  On July 13, 2017, the Tax Court ruled in Grecian Magnesite, Mining, Industrial and Shipping S.A. v. Commissioner (149 T.C. No. 3 (July 13, 2017)) […]

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End the Year on a High Note with Up-To-Date Trust-Based Estate Planning

(Finally) Finishing Your Tax Returns Isn’t the Final Step by: Christopher Klug – Estate Planning Lawyer  Washington DC You may already be done with your tax returns (or maybe you even finished them in time for the April deadline!).  October 16, 2017 is the deadline to file your 2016 federal and state income tax returns. […]

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IRS Levying Massive FBAR Penalties?

by: Christopher Klug – Washington DC Tax Attorney The Internal Revenue Service (“IRS”) has significant discretion to levy large (“FBAR”) penalties and as of recently has been using this discretion to impose or threaten large penalties in FBAR audits.  This is causing US tax practitioners frustration with the IRS due to what practitioners see as the […]

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