American Citizens Abroad Town Hall Evening 6 May 2015 Estate - - PowerPoint PPT Presentation

▶
american citizens abroad town hall evening 6 may 2015
SMART_READER_LITE
LIVE PREVIEW

American Citizens Abroad Town Hall Evening 6 May 2015 Estate - - PowerPoint PPT Presentation

Jan 01, 2024 19 likes •184 views

American Citizens Abroad Town Hall Evening 6 May 2015 Estate Planning, Banking Etc. Dr Guillaume Grisel LL.M. (Cambridge), Ph.D., T.E.P. Attorney-at-law, Bonnard Lawson Swiss-US Estate Planning in a Nutshell Marital Property, Estate and

slide-1
SLIDE 1

American Citizens Abroad Town Hall Evening 6 May 2015 Estate Planning, Banking Etc.

Dr Guillaume Grisel LL.M. (Cambridge), Ph.D., T.E.P. Attorney-at-law, Bonnard Lawson

slide-2
SLIDE 2

Swiss-US Estate Planning in a Nutshell

Marital Property, Estate and Incapacity Planning For US Citizens Living in Switzerland

slide-3
SLIDE 3

US Citizens and Swiss Banks

How to be treated decently by your banker….

slide-4
SLIDE 4

Swiss-US Estate Planning in a Nutshell

Marital Property, Estate and Incapacity Planning For US Citizens Living in Switzerland

slide-5
SLIDE 5

Global Estate Planning is About…

  • 1. Division of the marital property

In case of divorce or death of a spouse

  • 2. Division of the estate

Between the heirs (and the legatees)

  • 3. Incapacity

Daily life, assets and medical decisions

slide-6
SLIDE 6

Division of Marital Property

6

What will happen if no planning is done?

  • Which law will apply? Swiss or US Law?

Law of the (last) common place of residence of the spouses.

 Swiss law

  • How is property divided under the Swiss «default» regime?

Acquests sharing (Errungenschaftsbeteiligung, participation aux acquêts)

  • Assets earned during the marriage :

split 50-50 «Acquests»

  • Assets acquired before the marriage: not split
  • Gifts / bequests received during the marriage:

not split «Own assets»

slide-7
SLIDE 7

Division of marital property

7

What are your alternative planning options?

By making a prenup / postnup, you can choose between:

1.

Modified acquests sharing: The 50%-50% rule can be changed

2.

Community property (freedom as to which assets are in or out of the community)

3.

Separation of assets

4.

US law if at least one spouse is US

slide-8
SLIDE 8

Inheritance

What will happen if no planning is done?

  • Which law will apply? Swiss or US Law?

Law of the last place of residence of the deceased.  Swiss law

  • How is the estate divided under the Swiss law «intestacy» rules:
Surviving spouse and children Surviving spouse and parents Surviving spouse and siblings Three childr en
slide-9
SLIDE 9

Inheritance

9

What are your alternative planning options?

By making a will or an inheritance agreement, you can choose to:

1.

Modify the legal shares

2.

Appoint new heirs But: forced heirship rights must be respected

3.

Appoint legatees

4.

Subject your estate to US law

5.

Make an inheritance agreement Options to « get around » the forced heirship rights

6.

Give a usufruct to the surviving spouse

7.

Trusts ?

slide-10
SLIDE 10

Inheritance

Legal shares of the heirs at law: Forced heirship rights:

Surviving spouse and children Surviving spouse and parents Surviving spouse and siblings Three children

Surviving spouse and children Surviving spouse and parents Surviving spouse and siblings Three children

slide-11
SLIDE 11

In case of incapacity… the new Swiss rules

What will happen if no planning is done?

  • Who can act on my behalf in the daily life?
  • 1. Guardian

is appointed by the Court if:

  • Individual cannot safeguard his/her interests
  • An urgent matter must be settled
  • 2. Spouse or civil partner has limited powers with respect to:
  • Legal acts:
  • nly if «usually necessary» to satisfy the

needs

  • Assets: limited to «ordinary» management
  • Mail :
  • nly if «necessary»
slide-12
SLIDE 12

In case of incapacity… the new Swiss rules

What will happen if no planning is done?

  • Who can make health-care decisions on my behalf?

In order:

  • 1. Guardian

if he/she specifically received this power

  • 2. Spouse or civil partner

if they live in the same household or if he/she provides personal assistance

  • 3. Descendants
  • 4. Parents

if they provide personal assistance

  • 5. Siblings
slide-13
SLIDE 13

In case of incapacity… the new Swiss rules

What are your alternative planning options?

  • Daily life  Power of attorney in case of incapacity
  • Freedom to appoint the attorney you want
  • Freedom to define the scope of their powers in 3 possible fields
  • Personal assistance
  • Management of the assets
  • Representation towards third parties
  • Possibility to appoint different attorneys in different fields
  • Health care  Advanced medical directives
  • Early instructions for physicians
  • Appointment of a representative for health-care purposes
slide-14
SLIDE 14

US Citizens and Swiss Banks

How to be treated decently by your banker….

slide-15
SLIDE 15

US Citizens and Swiss banks

Remember:

  • Ask questions and get answers
  • Your options are not necessarily limited to the preprinted boxes
  • Seek legal advice
  • Closing / freezing of bank accounts: is it legal?
  • http://www.bankingombudsman.ch/en/
slide-16
SLIDE 16

Thank you very much for your attention

If you have any questions…

  • Bonnard Lawson – International Law Firm

Me Guillaume GRISEL Rue du Grand-Chêne 8 CP 5463 CH-1002 Lausanne

  • gg@ilf.ch
  • +41(0)21/348’11’88