Non-US domiciliaries have a personal federal estate tax exemption of only USD 60’000. Subject to taxation are all assets located in the United States. This exemption amount may be increased based on bilateral tax treaties between the United States and a few select countries. Often overlooked is the fact that bank accounts not connected to a trade or business are
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Becoming a US citizen can have significant positive estate tax consequences: There is no tax levied on assets that pass to a US-citizen spouse. The federal estate tax exemption of a US citizen is currently USD 11.2 million instead of a mere USD 60,000 for non-citizen decedents.
Read moreMany categories of people are exposed to an increased level of risk of litigation: physicians, entrepreneurs, high net-worth individuals. Furthermore, many elderly people suffer from cognitive decline or disability. Exploitation and elder fraud may be prevented through proper planning. Protecting assets can be achieved in many legal ways. Here are the simplest methods of asset protection: The simplest way of
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