Estate Planning for International Families
The Savvy Parent Podcast
Estate Planning for International Families
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On this episode of the podcast, lawyer Shannon McNulty shares about estate planning for international families. An estate plan helps clarify and confirm, if something happens to you, who will take care of your kids, your money, and the decision-making that goes with these two critical areas. International families will want to make sure that their estate plans are in order. 

Work with an Expert

In general, an estate plan has elements that you can DIY, but if you’re an international family, for example, you came to the U.S. as an immigrant, or are a naturalized citizen, then your estate plans become more complicated. It’s important to work with someone who specializes in this area of planning and law, and is familiar with the country that you have connections with. 

Make Sure There’s a Plan for Guardianship

Who will care for your kids is one of the most critical areas of an estate plan for parents. Establishing not only the legal guardian, but a temporary or stand-by guardian is the bare minimum we would want international families to have in place. In cases where a parent passes away or is incapacitated and there are no gaurdianship documents, for inernational families especially, the worst-case scenario can be dire. So, we strongly encourage you to get your estate plans in order.

Resources mentioned

Establishing guardianship is a must: check out our episode

Learn more about a healthcare proxy

Here’s what you need to know about power of attorney

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About the Author

Shannon McNulty

Shannon McNulty is the founder of The Savvy Parents Group and a lawyer in New York City who provides legal planning for parents with young children. Shannon received her J.D. from Georgetown University Law Center and her LL.M. in Taxation from NYU School of Law. She has also earned her CERTIFIED FINANCIAL PLANNER(TM) designation. You can learn more about Shannon and her firm at www.mcnulty-law.com.