There are many ways in which planning an estate, or simply properly filing one's taxes, can become quite complex rather quickly. Whenever an individual resides in the U.S. but is not a U.S. national, or if a U.S. national receives a significant gift or inheritance from outside of the country, then great care must be taken to ensure that matters are handled correctly. Especially if you are dealing with complex assets and establishing or maintaining your estate plan, it is always wise to double-check to make sure that you are abiding by all the applicable laws.
Is now the time to buy real estate in Greece?
It could be an excellent time to buy property in Athens. According to a report earlier this year from real estate analysts, the real estate market has dropped by 40 to 50 percent since the beginning of the financial crisis.
Property division in U.S.-Greece divorces
Key and complex property division issues can come up in anyone’s divorce. For Greek Americans, however, there can be a special factor at play when it comes to these divorce issues. This is that their divorce might not just involve property from the U.S., but assets in Greece as well.
Filing taxes for American and Greek income
Whether you are a Greek-American U.S. citizen or residing here with a green card, you may need to file taxes for income or activity in Greece. You may also need to submit statements for bank accounts outside of the U.S. America requires tax filing for all citizens or green card holders with an income, regardless of where the income originates.
Greece’s economic struggles impacting consumers’ eating habits?
Greece has been facing a lot of economic struggles in recent years. Such struggles can impact businesses in Greece, including those owned by individuals here in the U.S., in many different ways. For one, it could impact what kinds of financial and legal challenges the business could be facing. When economic happenings or other events in Greece create challenging legal matters for a Greek business they own, Greek-Americans may want to promptly seek out advice from an attorney skilled in Greek business law on what legal strategies they can pursue in relation to the challenges.
Greece seeing rise in inheritance disclaimers
Inheritances are generally seen as a good thing to receive. However, there are some things that could majorly impact how much a person would actually want a given inheritance. One is if the property given has major costs associated with it, like inheritance tax costs or maintenance costs. Another is if the person doesn’t view the property as being very helpful to them. When a beneficiary views a given inheritance as being a bigger burden than a help, one thing they might do is disclaim it.
