Cross-Border Financial Planning for Mexico
and San Miguel de Allende
Mexico Advisor provides practical solutions on local and international levels, to a wide variety of complex issues, dealing with finances, real estate, insurance, taxes and the law. We develop personalized, tailored, solutions based upon the unique needs and goals of our clients.
We have an in-house team of bilingual and bicultural staff, including attorneys, asset managers, cross-border financial planners. In addition, we have established the Mexico Advisor Network®, a team of recognized professionals that work with our clients, specializing in US, Mexico and Canada cross-border issues.
We are able to assist you with:
As a matter of policy, we never accept custody of any client funds.
Comprehensive cross-border financial plans – Based on client goals and risk tolerance, Mexico Advisor prepares a comprehensive financial plan that typically addresses the following areas: asset management, US-Mexico tax planning, international wills and estate planning and risk management/insurance.
Other areas, such as the purchase of real estate property as an investment, business planning, immigration and retirement planning may also be covered depending on client goals and concerns. Our financial planning services include recommendations of specific methods to legally reduce taxes, improve cash flow and make investments that will assist clients achieve their life goals.
Portfolio Management and Monitoring (Asset Management) - Mexico Advisor currently manages 16 million US dollars with assets in Mexico, the US and Switzerland.
This service includes monitoring and asset allocation recommendations consistent with the client’s risk tolerance and overall portfolio objectives. Mexico Advisor will make recommendations concerning securities to be purchased, sold, or exchanged. Written portfolio reports will be provided on a periodic basis, as previously agreed upon with the client, regarding total value, performance, and current asset allocation.
During the term of the monitoring agreement, Mexico Advisor periodically reviews the client’s financial plan in response to significant changes in economic and regulatory conditions in the U.S. and Mexico, as well as in response to specific client requests. Periodic reviews focus on specific areas of the client’s financial situation, and does not involve a comprehensive review of the client’s financial plan.
Tax Planning Services – Most clients come to Mexico and have no idea that by living in this country they often become Mexican tax residents. Mexican tax residents are required to report and pay taxes on worldwide income. Our goal is to assist clients to minimize and eliminate, to the extent legally possible, the tax burden of being tax compliant in multiple jurisdictions.
Typical questions are:
- Tax consequences of Mexican rental property
- How does Mexico calculate the capital gains exemption of the sale of Mexican property?
- Taxation of US income in Mexico
Our tax planning generally revolves around tax residence, organization of forms to reduce tax burden, use of tax advantaged funds, foreign tax credits, foreign earned income exclusions, etc.
Mexico Advisor also prepares US Federal and State tax returns. We have a Mexican accountant on staff and work with certified public accountants in Mexico and the US.
Estate Planning and Wills – International estate planning is complicated. Mexico Advisor reviews estate planning goals and previously drafted documents based on current goals. We then recommend a course of action that is applicable both in the US and Mexico. Mexican wills or trusts can be especially important when foreigners own real estate property in Mexico.
The US and Mexico recognize wills drafted in the other jurisdiction as valid, but care must be taken not to revoke prior wills if the intent is for the wills to control the distribution in property in each individual jurisdiction. We work hard to ensure that all estate planning documents are currently applicable and well coordinated.
Wills must be formalized by a notario in Mexico. However, Mexican Advisor can prepare a draft will in English and Spanish that will assist the Mexican notario, the US advisors, as well as the client in creating a document that meets client goals.
Risk Management/Insurance – Clients often have questions about what type of insurance is available and advisable in Mexico. Mexico Advisor can prepare a study that reviews current coverage and makes recommendations as to what type of policies may be required as part of a risk management program in Mexico (Mexico Advisor does not accept commissions except for any title insurance placed).
