When a Foreign National Dies with Assets in the U.S., What Happens?

Wealth Management | Sep 13, 2019 at 4:30 PM
  • If your client is a foreign national with ties to the U.S., they may own an apartment or a house, or have bank and investment accounts located here.
  • Cooperative apartments (but not condominium apartments or other real estate), bank and investment accounts are considered by New York to be intangible property located where the foreign national is domiciled.
  • Many people hold real estate (and tangible personal property such as art work) in a trust, LLC or corporation rather than in their own name.