Episode 52

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Published on:

26th Nov 2024

052: From U.S. to Anywhere: Essential Planning for Living Overseas with Lawyer Lauren Klein

Are you considering a move abroad? Or perhaps traveling long term?  Have you ever considered what it takes to safely and legally transition from your home country to a new country? 

Whether driven by political climates, a desire for adventure, or the allure of experiencing a new culture, moving overseas is a dream many people share. However, it's not just about packing your bags and buying a plane ticket. 

This week on the Transform with Travel Podcast, I’m joined by Lauren Klein, an esteemed estate planning attorney, to discuss the implications of moving abroad. Lauren, who specializes in helping individuals and families navigate the legal complexities of relocating internationally, shares invaluable insights from her experience.

Lauren emphasizes the need to start with a solid foundation in estate planning. Prior to moving, ensure your estate planning documents are set up in your home jurisdiction. This often includes setting up a revocable trust to avoid probate issues and naming guardians for minor children. Importantly, having healthcare directives in place ensures your healthcare wishes are respected, no matter where you are.

A common misconception is that U.S. citizens living abroad are not subject to U.S. taxes. In reality, the U.S. taxes citizens on their worldwide income, regardless of residence. Therefore, understanding your tax obligations in both the U.S. and your new country is essential, and requires expert advice from professionals who are well-versed in international tax laws.

Whether you're considering a temporary stay of a few months or a permanent move, it's crucial to understand the layers of legal and financial protection you need. Being informed and prepared will minimize stress and allow you to fully experience the joys of living overseas.

For those ready to leap into life abroad, having a well-structured plan and a strong, competent advisory team can make all the difference in achieving both security and happiness in your new location. 

We talk about:

  • 00:00 Intro
  • 01:19 Election Impact on Moving Abroad
  • 02:17 Legal Considerations for Moving Overseas
  • 04:06 Game Time: Two Truths and a Lie
  • 06:58 Estate Planning Essentials
  • 14:26 Tax Implications of Living Abroad
  • 20:43 Managing U.S. Assets While Overseas
  • 26:34 Building Your Support Team
  • 30:50 Digital Vault for Estate Planning
  • 36:32 Rapid Fire Questions 

Please note: The content of this podcast episode is for informational purposes only and should not be considered as a substitute for professional legal, tax, or healthcare advice. Always consult with a qualified expert for advice specific to your situation.

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About the Podcast

Transform With Travel: Trip Planning Made Easy For Busy Professionals Craving Bucket List Adventures
Are you sitting behind your desk craving an adventure to make you feel alive again? But with thousands of travel options out there, where do you begin?

Transform With Travel is designed for busy professionals who want more bucket lists trips that reignite adventure, go beneath the surface and feel unique to you WITHOUT the overwhelm of planning, the endless midnight scroll and the crowded tourist traps.

About your host

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Kelly Tolliday

Kelly is the Founder of Transform With Travel, with over 11 years in the travel industry. She's a Wellness Travel Expert, Retreat Facilitator, Travel Advisor & Podcast Host.

She's also a 500-Hr Registered Yoga Teacher & an Accredited Continued Education Provider for the Yoga Industry.

She's traveled to over 45 countries and lived across 4 continents. Now, it's her mission to inspire and support you in stepping outside of your comfort zone and into the life of your dreams.

She's passionate about immersive and transformational travel. She believe when you travel with intention, by combining wellness, adventure & cultural enrichment, you can truly transform your life, one trip at a time.

She's now based in South Florida, and she's married to her husband Sam with 2 beautiful daughters & 2 crazy dogs.