In This Presentation:
- Basic Rules
- Determination of Residency for Estate Tax purposes
- Tax Rules
- Estate and Gift Tax Treaties
- Asset Situs Rules
- Taxation of Life Insurance and Annuities held by Non-US citizen
- Planning Strategies
- Gifting
- Joint Tenant Property Rules
- Foreign Death Tax Credit
- Using Qualified Domestic Trusts (QDOTs)
- QDOTs
- Alternative to QDOT
- Excerpt from Determination of Residency for Estate Tax purposes:
- Resident Alien Status
•U.S. income tax imposed on worldwide income
•US estate tax imposed on worldwide assets
- Nonresident Alien Status
•US income tax imposed only on income from the US
•US estate tax imposed on assets domiciled in the US or tangible property in the US
- Country of Domicile—a “facts and circumstances” test
- One can be a nonresident alien for income tax purposes, but not for estate tax purposes. Reverse could be true as well.
Please see full publication below for more information.