_________________________________________________
I. COURSE DESCRIPTION
International Estate Planning (3 cr. Summer only): This course deals with the topics associated with the multinational estate. Its relevance is highlighted by an increasing need by international tax planners to effectively deal with sometimes perplexing and often conflicting rules posed by different jurisdictions upon a single estate. Although there is a heavy emphasis in this offering with respect to the traditional estate and gift duties, numerous other tax and non-tax matters will be discussed in detail, including issues of burial; the family office of private banks; using complex insurance contracts in estate planning as well as companies; annuity structures; charitable structures and family foundations; trusts and other family holding entities; tax treaty issues such as Estate and Gift tax treaties and the OECD model; amongst other issues. This course is taught by Richard Duke, well known published author and practitioner. Suggested prerequisites include a background in Estate and Gift or the course in this program, or Principles, Tax Treaties, and Offshore Financial Centers.
II. COURSE OBJECTIVES
The specific skills and understanding expected of students successfully completing this course would include the following:
· An understanding of the terms and concepts more or less peculiar to the topic of international estate planning;
· An ability to properly discern the issues material to the planning of an international estate;
· An awareness of the ethical and malpractice concerns indigenous to cross-border planning; and
· The capacity to satisfactorily analyze the problems presented and to justify any conclusions reached.
III. SYLLABUS
A. Required Text (online version)
provided online
B. Week-by-Week Topical Breakdown
Week One
· Course Overview and Introduction
· Glossary of Terms and Concepts
Week Two
· Territoriality
· Nationality
· Domicile
· Residence
· Situs
· Immovables
· Movables
Week Three
· Double Taxation
· OECD Model Convention
· Local Taxation Concerns
Week Four
· Principles of Succession
· Intestacy
· Forced Heirship
· Universal Succession
· Probate
· Hague Convention Concerning the International Administration of
the Estates of Deceased Persons
Week Five
· Valuation Principles
· Currency Fluctuations
Week Six
· Pertinent Income Tax Issues
Week Seven
· The Role of Wills
· Situs Wills
· Notarial Wills
· Mystic Wills
· Hague Convention Providing a Uniform Law on the Form
of an International Will
Week Eight
· The Role of Trusts and Other Entities
· Fiduciary Administration
· Changing the Situs of a Trust
· Rule Against Perpetuities
· Hague Convention on the Law Applicable to Trusts and
Their Administration
Week Nine
· Community Property
· Usufruct
· Other Forms of Co-Ownership
· Hague Convention on the Conflicts of Laws Relating to
the Form of Testamentary Dispositions
Week Ten
· Impact of Marital Agreements
· Health Care and Related Issues
Week Eleven
· Asset Protection Issues
· Governmental Expropriation
· The Revenue Law Doctrine
· Exchange of Information Agreements
Week Twelve
· Additional Factors Regarding Businesses
· Buy-Sell Agreements
· Mobile Executives
Week Thirteen
· Charitable Giving
Week Fourteen
· Ethical and Malpractice Concerns
· Unlicensed Practice of Law Issues
Week Fifteen
· Planning Opportunities
· Preimmigration Planning
· Expatriation
C. Final Examination
