Expat Forum For People Moving Overseas And Living Abroad banner

1 - 6 of 6 Posts

·
Registered
Joined
·
550 Posts
Discussion Starter #1
We are less than 2 weeks from our move overseas. We have accepted DH's employer's offer of keeping our house here in the United States unoccupied while we live in France for 4 years. We are to store belongings we don't take overseas in our house. We have encountered one giant problem - we cannot get insurance for our belongings while we are away. We are leaving behind several rooms of furniture, TVs, many small electronics and the basics so that we could live here in the summer if we wanted. While nothing is really nice, the replacement value of everything quickly adds up.

Has anyone else left a home unoccupied (but not vacant) while on an overseas assignment? If so, how did you insure your belongings? We are starting to panic on this one and appreciate any help. Thanks!
 

·
Registered
Joined
·
3,212 Posts
We are less than 2 weeks from our move overseas. We have accepted DH's employer's offer of keeping our house here in the United States unoccupied while we live in France for 4 years. We are to store belongings we don't take overseas in our house. We have encountered one giant problem - we cannot get insurance for our belongings while we are away. We are leaving behind several rooms of furniture, TVs, many small electronics and the basics so that we could live here in the summer if we wanted. While nothing is really nice, the replacement value of everything quickly adds up.

Has anyone else left a home unoccupied (but not vacant) while on an overseas assignment? If so, how did you insure your belongings? We are starting to panic on this one and appreciate any help. Thanks!
Put them in storage.
 

·
Registered
Joined
·
550 Posts
Discussion Starter #3
Put them in storage.
DH's employer won't pay for the storage or to have things moved to storage. We were explicitly told by them that we had to leave belongings here. The idea is that if for any reason we must return to the US, our house is to be inhabitable immediately. They will not pay for temporary housing upon our return.

And we don't want to pay for the cost of moving/storage either. The amount of money we are losing in this move keeps adding up. The agreement/offer says that they will help with insurance, but they haven't lived up to that end of the agreement.
 

·
Registered
Joined
·
2 Posts
insurance

We are less than 2 weeks from our move overseas. We have accepted DH's employer's offer of keeping our house here in the United States unoccupied while we live in France for 4 years. We are to store belongings we don't take overseas in our house. We have encountered one giant problem - we cannot get insurance for our belongings while we are away. We are leaving behind several rooms of furniture, TVs, many small electronics and the basics so that we could live here in the summer if we wanted. While nothing is really nice, the replacement value of everything quickly adds up.

Has anyone else left a home unoccupied (but not vacant) while on an overseas assignment? If so, how did you insure your belongings? We are starting to panic on this one and appreciate any help. Thanks!
this is an old post but i just saw it and it may help someone else. we moved from the US 5 years ago and still have a house with stuff there. we were able to easily get extra insurance through state farm and so far, so good.
 
G

·
Guest
Joined
·
0 Posts
We are less than 2 weeks from our move overseas. We have accepted DH's employer's offer of keeping our house here in the United States unoccupied while we live in France for 4 years. We are to store belongings we don't take overseas in our house. We have encountered one giant problem - we cannot get insurance for our belongings while we are away. We are leaving behind several rooms of furniture, TVs, many small electronics and the basics so that we could live here in the summer if we wanted. While nothing is really nice, the replacement value of everything quickly adds up.

Has anyone else left a home unoccupied (but not vacant) while on an overseas assignment? If so, how did you insure your belongings? We are starting to panic on this one and appreciate any help. Thanks!
Bevdeforges will probably know better, but if you maintain a home in the US while on an overseas assignment, the IRS may look at your move as a temporary thing and not allow you to take the Foreign Earned Income Exclusion on the first $92,900 you will earn in 2011 for your assignment. This is a good question for your tax attorney. Another potential cost of $15,594 for 2011.

An easy way to get around this is to qualify using the Physical Presence method, and spend more than 330 days outside the US or its territories, rather than using the other method - Bona fide residence in a foreign country. Ask a tax attorney who understands expats and expat taxation.
 

·
Administrator
Joined
·
48,529 Posts
Bevdeforges will probably know better, but if you maintain a home in the US while on an overseas assignment, the IRS may look at your move as a temporary thing and not allow you to take the Foreign Earned Income Exclusion on the first $92,900 you will earn in 2011 for your assignment. This is a good question for your tax attorney. Another potential cost of $15,594 for 2011.

An easy way to get around this is to qualify using the Physical Presence method, and spend more than 330 days outside the US or its territories, rather than using the other method - Bona fide residence in a foreign country. Ask a tax attorney who understands expats and expat taxation.
Owning a home back in the US shouldn't interfere with claiming the exclusion. And most folks use the physical presence test their first year, no matter their intentions. (The bona fide residence test requires that you live overseas for an entire calendar year, whereas the physical presence test allows you to claim a proportional exclusion for the first year you're overseas.)
Cheers,
Bev
 
1 - 6 of 6 Posts
Top