Do Dual Citizens Need a Separate Will for Each Citizenship‪?‬ Goldstein on Gelt

Should dual citizens have one will for assets they own in both countries, or will one will cover their global assets? Albert Goodwin, a New York attorney, speaks with Doug about the importance of Americans in Israel having an Israeli will. Albert has experience with helping people in New York, Miami, and Israel with estate plans. Albert advises, if you live in Israel, to definitely have an Israeli will. There is more red tape involved with trying to use a U.S. will in Israel, as foreign documents and official translations can complicate matters in court. There will be two probate proceedings in each country. A trust can eliminate the need to go to two courts. Are you setting up your children for financial success or failure? When the time comes to pass responsibility for finances to your children, choose who to trust with task wisely. Why do females get a bad rap when it comes to assuming financial responsibilities? Are you responsible for inadvertently propagating the stereotype? To learn more about passing the reins to the next generation, watch a replay of a seminar Doug gave on the topic. To learn more about Albert Goodwin visit www.NYEstatesLawyer.com to find out all about estate planning and his services. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.