Josh Maxwell and Jared Garfield Presented at the Estate Planning and Wealth Succession Asia Forum

Understanding the rules regarding taxation for U.S. and non-U.S. persons is important for people with immigration status in, or business ties to, the United States, according to Hone Maxwell LLP’s Josh Maxwell and Jared Garfield. The two made their remarks at the Estate Planning and Wealth Succession Asia Forum 2023, presented by Singapore-based Estate Planning Practitioners Limited and organized by Precepts Academy Pte. Ltd.

The tax rules Josh and Jared discussed carry complex reporting requirements and various taxation considerations, especially in relation to income tax and estate/gift tax rules.

Some of the topics covered include:

  • Foreign Account Tax Compliance Act (FATCA)
  • Amnesty programs
  • Practical tips for effectively navigating the U.S. tax system
  • Estate tax considerations for foreigners with U.S. assets

In addition, Josh and Jared gave attendees an in-depth overview of the following reporting obligation for U.S. persons:

  • Foreign business ownership
  • Transactions with foreign trusts
  • Foreign bank accounts
  • Foreign assets
  • Foreign inheritance/gifts

Josh and Jared’s trip to Singapore and this event was a precursor for a coming big announcement regarding HMLLP in Asia beginning in 2024! Stay tuned for more information!

A summary of Josh and Jared’s presentation can be found on page 4 of EPPL’s newsletter, The Custodian.


Disclaimer: Hone Maxwell LLP articles and blogs are not intended as legal advice. Additional facts, facts specific to your situation or future developments may affect subjects contained herein. Seek the advice of an attorney before acting or relying upon any information herein.

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