Robert W. Wood, tax attorney and expert on cross-border investing, discusses the pros and cons of renouncing U.S. citizenship if you live abroad? How does it affect taxation, Social Security payments, and estate planning, and will you be allowed to visit the United States again?

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Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm specializing in working with Americans living in Israel who have investment accounts in America. He is a licensed financial professional both in the U.S. and Israel.