Liechtenstein is a Great Jurisdiction for Sharia Compliant Succession Planning

Intro

Muslims are required to arrange their affairs such that their estates are distributed pursuant to Sharia law’s share system.

The Problem

This is easily accomplished with assets located within a Sharia law country because estates are, by default, distributed according to Sharia law’s share system.

Ensuring assets located outside of a Sharia law country are distributed in accordance with Sharia law is not quite so straight forward, however. The reason is that many countries don’t recognize Sharia law and, absent advanced planning, will distribute estates in accordance with local law rather than Sharia law. Even if the country where the assets are located recognizes Sharia law estate distribution principles, they likely won’t recognize the concept of plural marriage, meaning assets passed to any wife, other than the first wife, would likely be subject to estate tax.

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Deathly Taxing

Deathly TaxingMy most recent article, Deathly Taxing, discusses U.S. gift and estate taxes and how they can affect multinational families.I wrote this article prior…

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2018 Inflation Adjusted Amounts

IRS Releases 2018 Inflation Adjusted Amounts

Every year the IRS adjusts certain amounts for inflation. For example, they generally adjust the standard deduction, the foreign earned income exclusion, and the estate tax exclusion, to name a few. Now that the 2018 inflation adjusted amounts have been released, we wanted to inform you of the most notable changes.

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