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Affluent foreigners who come to the United States urgently need advice about everything from the estate and gift tax laws to the consequences of owning property abroad. Some of the issues they face require attention before they establish U.S. residency. Yet a recent study finds that most affluent Western Europeans don't seek tax counseling before coming to this new world. In September 2003, Prince
Russ Alan Prince, Prince & Associates, Redding, Conn., with Edward A. Renn, partner, and Von E. S
Affluent foreigners who come to the United States urgently need advice about everything from the estate and gift tax laws to the consequences of owning property abroad. Some of the issues they face require attention before they establish U.S. residency. Yet a recent study finds that most affluent Western Europeans don't seek tax counseling before coming to this new world.
In September 2003, Prince and Associates, a private consulting firm, conducted a telephone survey of 119 wealthy individuals who had been living in the United States from one to six years. All were originally from Western Europe; we found them through referrals from internati...
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