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Opening foreign bank account to receive foreign inheritance
My in-laws, who are citizens of a Scandinavian country, have suggested it might be beneficial for us to open a checking account at their bank to use as the initial receptacle for inherited assets they intend to leave to us. Since we would immediately transfer those assets to the U.S. and declare them, are there any advantages or drawbacks to an offshore account, versus their estate's executor transmitting funds directly to our U.S. bank?
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‎August 28, 2023
9:40 PM