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Celebrity Estates: Russia, Ukraine and the Benefits of Alternative CitizenshipCelebrity Estates: Russia, Ukraine and the Benefits of Alternative Citizenship

The return of war to Europe reinforces the need for clients to have a backup plan in place to protect their families and their assets.

David H. Lenok, Senior Editor

April 18, 2022

 

The war between Russia and Ukraine is upsetting what many thought to be a well-established world order. The ripples of the conflict are being felt thousands of miles away, as the global economy struggles to recalibrate on the fly. The return of war to Europe reinforces the need for clients to have a backup plan in place to protect their families and their assets. Exploring alternative citizenship is a powerful, and often underexplored, tool in this regard.

In this episode, David Lenok is joined by David Lesperance, of Lesperance and Associates, in discussing the international impact of the land war between Russia and Ukraine, along with the legality of citizenships for individuals looking to gain additional or renounce existing ones in order to insulate themselves, their families and their assets from potential danger.

David discusses:

  • How conflict between Russia and Ukraine impacts the entire world;

  • What having a "backup" plan in place looks like;

  • The differences between types of citizenship;

  • The law surrounding citizenships;

  • Strategies surrounding citizenships and tax planning;

  • And more.

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About the Author

David H. Lenok

Senior Editor

David Lenok is a senior editor for Wealthmanagement.com and Trusts & Estates. He's an attorney admitted to practice in New York and writes about general wealth planning issues.