Intro to US & UK Inheritance Taxes

Cross-border estate and gift tax planning is extremely complex. The intent of this post is really to give you some background information so that you can walk into a meeting with an estate planning professional knowing the basics of the systems, not to give you enough knowledge to do it yourself! Estate planning is notContinue reading “Intro to US & UK Inheritance Taxes”

Saving & Investing for Kids

We know that 529s aren’t typically a great option for Americans in the UK, but you want to save some money for your kids – maybe for university, a first home deposit, or other long term goals, right? And maybe their grandparents want to start some kind of savings for them, too? I’ve put togetherContinue reading “Saving & Investing for Kids”

UK Junior ISA (Account Options)

This is a really quick one for completeness. A Junior ISA won’t be part of your own retirement/FIRE planning, but maybe something you consider for your kids. They come in both cash and Stocks & Shares (S&S) flavors – the rules are almost the same as adult ISAs. I’ve only called out the handful ofContinue reading “UK Junior ISA (Account Options)”

Alternative Minimum Tax & Americans Overseas

I just finished my 2020 US taxes, and while reviewing them noticed that I had a chunk of Alternative Minimum Tax, over $600! Fortunately, it was offset by my child tax credits (thanks girls!), so I didn’t actually owe any tax, but it got me to thinking. My kids are growing up fast, and thereContinue reading “Alternative Minimum Tax & Americans Overseas”

US and UK Taxes – Which are higher?

The UK, right? Lots of people make the assumption that the UK is a high tax country, with a generous social safety net funded from those high taxes (some people I know would disagree with how generous – more than the US in a lot of cases, at least, but no Norway!). I wanted toContinue reading “US and UK Taxes – Which are higher?”

UK & US Savings Accounts (Account Options)

I’m lumping these together because there’s no practical difference, aside from the currency. These aren’t really investment accounts, but just to cover the rest of the universe of accounts that Americans in the UK might have. Synopsis Short term savings or emergency fund only – low interest rates, often below inflation. There might be someContinue reading “UK & US Savings Accounts (Account Options)”

US 529 College Savings Account (Bad Account Options)

Bad might sound dramatic, but this one is a bit of a conundrum – I really don’t see any positives, but plenty of headaches. Short answer – if you’re in the UK or thinking of moving sometime and you don’t already have a 529 for your kids, don’t open one. If you’ve already got one,Continue reading “US 529 College Savings Account (Bad Account Options)”

US Employer Pensions (401(k), etc.) (Account Options)

This is a big one – it might be limited in your ability to contribute moving forward, but for many Americans who move to the UK after starting their career in the US, you’ve got one or more employer pension accounts, possibly with substantial balances. For our purposes, the rules are pretty much the sameContinue reading “US Employer Pensions (401(k), etc.) (Account Options)”

My Asset Allocation (Part 2)

14Apr21: I edited my approach to where to put bonds, based on my post on Required Minimum Distributions. In Part 1, we discussed the first three of my six steps for asset allocation: Why are you investing? What are the goals? What broad asset categories do you want to invest in? Stocks vs bonds, US,Continue reading “My Asset Allocation (Part 2)”