Goldstein on Gelt: Renouncing U.S. Citizenship: The Financial and Emotional Realities

Thinking about renouncing your U.S. citizenship? It’s a decision that comes packed with complex financial and emotional considerations! Eli Clark, an international lawyer with a focus on cross-border estate planning, joins us to unpack the nuances.

From untangling complicated banking woes to understanding the infamous exit tax, there’s a lot at stake. We dive deep into what it really means to leave behind your U.S. passport—debunking myths and tackling big questions like, “Will I still get my Social Security?” or “What happens to my investments?”

Don’t take the leap without knowing all the facts (and a few surprises) that could impact your future.

Key Takeaways:

Renouncing your citizenship can free you from tax headaches, but there are big financial considerations to manage.
Learn how to dodge hefty estate and exit taxes with the right planning before you make any moves.
Even if you say goodbye to your passport, the U.S. might still have a claim on your assets. Know what to expect!The Goldstein On Gelt Show is a financial podcast.

Click on the player below to listen. For show notes and resources mentioned in the show, go to https:⁠/⁠/goldsteinongelt.com/radio-show

The information provided here is intended for educational purposes only and is not to be considered legal, tax, or investment advice. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates.