International Estate Tax Planning
Are you aware that the “normal” U.S. estate and gift tax rules do not
apply to you and your spouse if one of you is a non-U.S. citizen? Did you
know that nonresidents for estate tax purposes only qualify to exempt
$60,000 before federal estate tax applies?
All foreign nationals working in the US for a period of time should
examine their estate tax plan and Will requirements. Tax Treaties may
assist to mitigate tax costs. However, this area is complicated by the fact
that income tax and estate tax exposure do not necessarily coincide. A
beneficial outcome in one area may be detrimental in the other. We can
provide advice on your income tax and estate tax exposure, including
domicile and residency planning, and can also advise on Will formation.