Essential Tax, Estate and Investment Insights for Global Professionals

Navigating life between countries can be exciting, but financially, it's also incredibly complex. In this episode of Passport To Wealth®, host Arielle Tucker, CFP®, EA, is joined by Jane Mepham, CFP®, founder of Elgon Financial Advisors, for a wide-ranging conversation on the financial realities facing immigrants, U.S. expats, and globally mobile professionals.

Why Cross-Border Financial Planning Requires a Different Approach

Unlike traditional financial advice, cross-border planning considers immigration status, international tax law, and compliance risks that vary by country. Arielle and Jane emphasize the importance of working with a fee-only advisor, whose recommendations are based on expertise, not commissions.

"Most people don't realize their financial advisor may be making commissions from the products they recommend. With fee-only planning, you're paying for advice instead of sales."

And while many assume financial planning is mostly numbers and investments, cross-border clients often need help with something more foundational: knowing what questions to ask before they move.

Visa Type Determines the Rules

One of the biggest mistakes Jane sees is clients assuming all visas are treated the same from a tax standpoint. But tax residency often begins not when you arrive, but when your visa status triggers it. Some visas, like the F1 student visa, allow a multi-year window before U.S. tax residency begins. Others, like the H1-B or L-1, establish tax residency much faster, sometimes on day one.

"The first thing I always ask is, 'What's your visa status?' Because everything else builds from there."

The PFIC Trap

Investing back home, or in your new country, may feel like a smart move. But for U.S. taxpayers, foreign mutual funds often trigger PFIC rules, which come with punishing tax consequences and complex reporting requirements.

"These are such an easy trap to fall into," Arielle explains. "Clients often invest in local funds, not realizing they're buying PFICs, and the IRS doesn't care that you didn't know."

Jane urges anyone planning a move to share their overseas statements before relocation, so that problematic investments can be addressed before they become liabilities.

Planning for the Unexpected

For many professionals on work visas, immigration status is tied to employment. If a job ends, so does the right to stay in the U.S.

"On an H1-B, you typically have 60 days to find another job or leave the country. That's not a lot of time in today's job market."

To prepare, Jane recommends a 12-month emergency fund, budgeting for the cost of returning home, and networking and career planning in advance.

Estate Planning: The International Edition

Estate planning is rarely straightforward, but across borders, it becomes even more complex.

"People hear they need a trust and start setting one up, but they don't think about who their trustee is. If it's someone abroad, they may have just created a foreign trust, and now they're subject to extra reporting and taxes."

Another hidden issue is domicile. Unlike residency, domicile considers your long-term intent, and if you're not domiciled in the U.S., your estate exemption drops to just $60,000, meaning a modest home could push your estate into taxable territory.

Build the Right Professional Network

Both Jane and Arielle emphasize the value of a trusted, experienced network, including immigration attorneys, international tax experts, and estate planners familiar with cross-border issues.

"You're not just hiring a planner. You're hiring someone who knows who else you need in the room."

This is really the throughline of the whole conversation. If you're asking do I need a financial advisor before moving abroad, visa timing, PFIC exposure, and estate domicile rules are exactly the kind of interlocking details that make the answer yes for most globally mobile professionals. Jane's own practice is built specifically around this kind of cross-border financial planning work for immigrants and expats alike.

Connect with Our Guest

Jane Mepham, CFP®, is the founder of Elgon Financial Advisors and the host of the International Money Cafe Podcast.

You May Also Like

• Planning Your Move to Italy: U.S. Expat Life, Taxes, and Family Insights, for a look at how another European country handles expat taxation differently
• What U.S. Citizens Need to Know Before Moving To Germany, a practical look at visas and immigration for Americans headed to Germany
• Moving Abroad from the US: How to Find Your Ideal Country, for anyone still narrowing down where to go before the financial planning starts

About the Author

Arielle Tucker, CFP®, EA, is a cross-border financial planner, founder of Connected Financial Planning and the host of Passport To Wealth®, helping U.S. expats simplify their finances while building intentional, global lives. She brings firsthand experience navigating cross-border tax and relocation planning to every client conversation. Ready to build your own financial roadmap for life abroad? Schedule a paid expat expert coaching call with her directly.