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<p class="MsoNormal">Hi Eric<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">(a) transferring funds to beneficiaries in China is not complicated. The beneficiaries can open US$ bank accounts in China at any China banks. You can wire money to that bank accounts from the US. China’s foreign exchange control rules
limit the beneficiaries’ right to exchange the US$ into RMB, but this is not your problem. Fyi, if the fund is more than US$ 50,000, the beneficiaries may ask you to wire in installments to reduce the amount of each installment to be below US$ 50,000. Whether
to agree or not, it is the call of the PR. Even if the PR does not agree to wire in installments, the fund still belongs to the beneficiaries (China’s foreign exchange control rules limit the right to convert the fund, do not limit the ownership of the fund),
they can convert the US$ into RMB next year as each person got a fresh new quote each year.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">(b) I do not know the answer. Just certain information: China and US have a tax treaty (
<a href="https://www.irs.gov/pub/irs-trty/china.pdf"><span style="color:windowtext;text-decoration:none">https://www.irs.gov/pub/irs-trty/china.pdf</span></a> ) which does not specifically mention wrongful death compensation. Per Art 21 (other income), if
the compensation is treated as “income” under the treaty, it seems the compensation received by the beneficiaries shall be taxable in China. Fyi, under the Chinese income tax laws, it is likely the compensation received by the beneficiaries is income-tax-free
(China has no gift tax). To be prudent, the PR may withhold certain taxes, the CPA can file a tax return to get it back later-on.
<o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:14.0pt"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><b><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#1F497D">Yuping Wang
</span></b><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#1F497D">| Davis Wright Tremaine<b>
</b>LLP<br>
920 Fifth Avenue, Suite 3300 | Seattle, WA 98104<br>
Tel: (206) 757-8348 | Fax: (206) 757-7167 <br>
Email: </span><a href="mailto:yupingwang@dwt.com"><span style="font-size:8.0pt;font-family:"Arial",sans-serif">yupingwang@dwt.com</span></a><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#1F497D"> | Website:
</span><a href="http://www.dwt.com/"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#CC0000">www.dwt.com</span></a><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#1F497D"><br>
<br>
Anchorage | Bellevue | Los Angeles | New York | Portland | San Francisco | </span>
<span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#CC0000">Seattle</span><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#1F497D"> | | Washington, D.C.<o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#00B050"><o:p> </o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#00B050"><o:p> </o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:#00B050"><o:p> </o:p></span></i></p>
</div>
<p class="MsoNormal"><br>
Message: 12<br>
Date: Wed, 25 Aug 2021 17:00:09 +0000<br>
From: Eric Nelsen <<a href="mailto:eric@sayrelawoffices.com">eric@sayrelawoffices.com</a>><br>
To: WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
Subject: [WSBAPT] Wrongful Death proceeds payment to Chinese<br>
beneficiaries<br>
Message-ID:<br>
<<a href="mailto:098D0346993E6A48B0D5F184C0AB002E8AC788@SBS2011.sayrelawoffices.local">098D0346993E6A48B0D5F184C0AB002E8AC788@SBS2011.sayrelawoffices.local</a>><br>
Content-Type: text/plain; charset="us-ascii"<br>
<br>
Decedent has multiple children domiciled in China, Chinese citizens, no connection to the United States (their parent died while visiting the U.S.). They are entitled to shares of wrongful death settlement proceeds. Can anyone point me in the right direction
for how to figure out (a) how to transfer funds to beneficiaries in China, and (b) if there are any tax withholding or other duties the PR has before transferring funds out of the country?<br>
<br>
Sincerely,<br>
<br>
Eric<br>
<br>
Eric C. Nelsen<br>
Sayre Law Offices, PLLC<br>
1417 31st Ave South<br>
Seattle WA 98144-3909<br>
206-625-0092<br>
<a href="mailto:eric@sayrelawoffices.com%3cmailto:eric@sayrelawoffices.com">eric@sayrelawoffices.com<mailto:eric@sayrelawoffices.com</a>><br>
<br>
Covid-19 Update - All attorneys are working remotely during regular business hours and are available via email and by phone. Videoconferencing also is available. Signing of estate planning documents can be completed and will be handled on a case-by-case basis.
Please direct mail and deliveries to the Seattle office.<br>
<br>
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Message: 13<br>
Date: Wed, 25 Aug 2021 10:05:09 -0700<br>
From: <<a href="mailto:wickertlaw@comcast.net">wickertlaw@comcast.net</a>><br>
To: "'WSBA Probate & Trust Listserv'" <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
Subject: Re: [WSBAPT] Wrongful Death proceeds payment to Chinese<br>
beneficiaries<br>
Message-ID: <<a href="mailto:02f401d799d3$5cec2cd0$16c48670$@comcast.net">02f401d799d3$5cec2cd0$16c48670$@comcast.net</a>><br>
Content-Type: text/plain; charset="us-ascii"<br>
<br>
Please respond to the list. I have a beneficiary in China too. <br>
<br>
<br>
<br>
Very truly yours,<br>
<br>
Maureen A. Wickert, Attorney at Law<br>
<br>
<br>
<br>
14900 Interurban Avenue South, Suite 255<br>
<br>
Tukwila, WA 98168<br>
<br>
Phone: 206-859-5502<br>
<br>
Fax: 206-260-9005<br>
<br>
<<a href="http://www.wickertlawoffice.com/">http://www.wickertlawoffice.com/</a>>
<a href="http://www.wickertlawoffice.com">
www.wickertlawoffice.com</a><br>
<br>
<<a href="mailto:wickertlaw@comcast.net">mailto:wickertlaw@comcast.net</a>> <a href="mailto:wickertlaw@comcast.net">
wickertlaw@comcast.net</a><br>
<br>
This electronic message contains information which may be confidential<br>
and/or legally privileged. The information is intended for the use of the<br>
individual or entity named above. If you are not the intended recipient, be<br>
aware that any disclosure, copying, distribution or use of the contents of<br>
this transmission is prohibited. If you have received this electronic<br>
transmission in error, please notify me by telephone or by email<br>
immediately.<br>
<br>
<br>
<br>
From: <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a>><br>
On Behalf Of Eric Nelsen<br>
Sent: Wednesday, August 25, 2021 10:00 AM<br>
To: WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
Subject: [WSBAPT] Wrongful Death proceeds payment to Chinese beneficiaries<br>
<br>
<br>
<br>
Decedent has multiple children domiciled in China, Chinese citizens, no<br>
connection to the United States (their parent died while visiting the U.S.).<br>
They are entitled to shares of wrongful death settlement proceeds. Can<br>
anyone point me in the right direction for how to figure out (a) how to<br>
transfer funds to beneficiaries in China, and (b) if there are any tax<br>
withholding or other duties the PR has before transferring funds out of the<br>
country?<br>
<br>
<br>
<br>
Sincerely,<br>
<br>
<br>
<br>
Eric<br>
<br>
<br>
<br>
Eric C. Nelsen<br>
<br>
Sayre Law Offices, PLLC<br>
<br>
1417 31st Ave South<br>
<br>
Seattle WA 98144-3909<br>
<br>
206-625-0092<br>
<br>
<a href="mailto:eric@sayrelawoffices.com">eric@sayrelawoffices.com</a> <<a href="mailto:eric@sayrelawoffices.com">mailto:eric@sayrelawoffices.com</a>>
<br>
<br>
<br>
<br>
Covid-19 Update - All attorneys are working remotely during regular business<br>
hours and are available via email and by phone. Videoconferencing also is<br>
available. Signing of estate planning documents can be completed and will be<br>
handled on a case-by-case basis. Please direct mail and deliveries to the<br>
Seattle office.<br>
<br>
<br>
<br>
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<br>
Message: 14<br>
Date: Wed, 25 Aug 2021 17:26:56 +0000<br>
From: Dalynne Singleton <<a href="mailto:dalynne@glgmail.com">dalynne@glgmail.com</a>><br>
To: WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
Subject: Re: [WSBAPT] Wrongful Death proceeds payment to Chinese<br>
beneficiaries<br>
Message-ID:<br>
<<a href="mailto:DM6PR12MB55501A5FCBFBA6C88CD7A661A5C69@DM6PR12MB5550.namprd12.prod.outlook.com">DM6PR12MB55501A5FCBFBA6C88CD7A661A5C69@DM6PR12MB5550.namprd12.prod.outlook.com</a>><br>
<br>
Content-Type: text/plain; charset="us-ascii"<br>
<br>
I have a WD settlement with South Korean beneficiaries.<br>
Those beneficiaries engaged an attorney in S. Korea who will take the proceeds and distribute.<br>
<br>
Dalynne Singleton<br>
Gourley Law Group<br>
Snohomish Escrow<br>
The Exchange Connection<br>
1002 10th Street / PO Box 1091<br>
Snohomish, WA 98291<br>
360.568.5065<br>
360.568.8092 fax<br>
<a href="mailto:dalynne@glgmail.com%3cmailto:dalynne@glgmail.com">dalynne@glgmail.com<mailto:dalynne@glgmail.com</a>><br>
Website: <a href="http://www.glglawgroup.com">
www.glglawgroup.com</a><<a href="http://www.glglawgroup.com">http://www.glglawgroup.com/</a>><br>
As we face the challenges presented by COVID-19, we have limited staffing in the office to maintain critical functions. Attorney/client meetings will be handled by teleconference or virtually whenever possible. Be assured that we will continue to advise & support
our clients throughout this health emergency. If you would like to set a telephone conference, please call or email my paralegal
<a href="mailto:theresa@glgmail.com%3cmailto:theresa@glgmail.com">theresa@glgmail.com<mailto:theresa@glgmail.com</a>> or
<a href="mailto:dara@glgmail.com%3cmailto:dara@glgmail.com">dara@glgmail.com<mailto:dara@glgmail.com</a>>.<br>
LICENSED IN WASHINGTON AND OREGON<br>
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From: wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> On Behalf Of Eric Nelsen<br>
Sent: Wednesday, August 25, 2021 10:00 AM<br>
To: WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
Subject: [WSBAPT] Wrongful Death proceeds payment to Chinese beneficiaries<br>
<br>
Decedent has multiple children domiciled in China, Chinese citizens, no connection to the United States (their parent died while visiting the U.S.). They are entitled to shares of wrongful death settlement proceeds. Can anyone point me in the right direction
for how to figure out (a) how to transfer funds to beneficiaries in China, and (b) if there are any tax withholding or other duties the PR has before transferring funds out of the country?<br>
<br>
Sincerely,<br>
<br>
Eric<br>
<br>
Eric C. Nelsen<br>
Sayre Law Offices, PLLC<br>
1417 31st Ave South<br>
Seattle WA 98144-3909<br>
206-625-0092<br>
eric@sayrelawoffices.com<mailto:eric@sayrelawoffices.com><br>
<br>
Covid-19 Update - All attorneys are working remotely during regular business hours and are available via email and by phone. Videoconferencing also is available. Signing of estate planning documents can be completed and will be handled on a case-by-case basis.
Please direct mail and deliveries to the Seattle office.<br>
<br>
<br>
<br>
<o:p></o:p></p>
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