Nowadays many Australians now own assets abroad, spend time living abroad or enter into relationships with foreign individuals. Likewise, individuals moving to Australia often retain assets in the country they have moved from and enter into relationships with Australians. On death or incapacity, this can create a complex situation with different succession laws applying to different assets and individuals including conflicts as to which law applies.
Complicating this further are the complexities of the Australian tax and duties legislation coupled with how this interacts with the tax systems of other countries, many of which have inheritance and gift taxes that can apply on deaths which Australia does not.
We are aware of the issues and apply a considered and thorough approach in dealing with them, as although many Australian advisers understand the key issues in regards to Australian estate and succession planning, the international issues can often be overlooked. Our team of lawyers who are qualified in Australia, Jersey and England and Wales have extensive experience and expertise in advising private clients.
- advising clients on succession to their worldwide wealth including the use of Australian and offshore trusts, companies and other entities to simplify the structure and governance of their international wealth
- cross jurisdictional probate and estate administration including estate disputes
- dealing with clients with UK assets and issues including assisting clients with a UK inheritance tax exposure to ensure their strategy works from both an Australian and UK perspective
- dealing with clients with US assets and issues including assisting clients with a US estate and gift tax exposure to ensure their strategy works from both and Australian and US perspective
- the acquisition, sale and structuring of Australian residential and commercial property and businesses by non-Australian residents
- international tax advice including ceasing Australian residence and tax planning for Australian income tax, capital gains tax and stamp duty