A family member of the four attorneys in our firm is now in his sixth year playing professional basketball in Europe.  In advising our family member and other players, we have come to realize that many Americans playing overseas have a need for tax and legal advice related to matters other than those matters typically handled by their agents.

Americans employed as professional basketball players overseas are subject to the U.S. Federal income tax system in all its glory; including the foreign income exclusion, foreign tax credit, and other complex adjustments, inclusions, exclusions, and deductions.  Since many players have failed to file required U.S. tax returns while they have been employed overseas, one of the services we render is straightening out prior year tax affairs of those players.

In addition, particularly between seasons while they are visiting in the U.S. during the summer, players may, unfortunately, have need for health and/or general liability insurance coverage not comprehended by insurance provided by overseas teams. Further, overseas basketball players may require some guidance in investing their savings in a manner suited to their fairly unique circumstances.  Finally, players, who are mature adults (often with families) and are accumulating substantial assets, need to consider providing for the uncertainties of life with financial and medical powers of attorney as well as wills and trusts.  Members of our firm stand ready to assist in these areas.

Please note, we are not agents.  We are attorneys who have developed a segment of our practice to address the needs we perceive to exist among those talented, fortunate Americans worldwide who make their living playing the game they love.

The lead attorney in this segment of our firm has practiced for over thirty years primarily in the areas of tax and commercial law.  He retired from General Motors Corporation several years ago where he had been employed as General Director-Federal Taxes and Assistant General Tax Counsel.  The senior attorney in our firm has engaged in the general practice of law for over thirty years primarily in commercial law.  The other two attorneys in our firm have more recently been called to the practice of law but also have significant experience in commercial law.

The contact attorney for this segment of our practice is Blair D. Hess.  He may be contacted at (248) 585-5555 or at blair.hess@hesslawgroup.com, should you have further questions or concerns, including a wish to be provided with more in-depth, detailed information concerning the issues referenced above.  A General Discussion of Tax Matters for American Basketball Players Employed Overseas can be found by clicking here.