Transfer Tax Basics for Noncitizens
Over the past few months, there has been a renewed interest in estate planning topics. The increased interest is likely due to the combination of the daily coverage of deaths due to COVID-19, historic high federal exemption amount, and low-interest rates. Recently, some of my calls involved the application of U.S. estate tax laws to clients who are not citizens of the United States, but either reside or own property in the U.S. Individuals who reside in the U.S., but are not citizens, could face significant estate and gift tax problems. Read Full PDF