The Gift Tax Exemption for Non Residents of the Us
There is a large exception to the gift tax rules as it relates to non residents of the us. All intangible assets and all tangible assets not located in the united states are not subject to us. That allows you to do a large transfer of intangible assets into trusts avoid triggering us. And then now you've got the assets housed in these trusts where it can be protected from state tax going forward.
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International and Cross-Border Planning have been a major issues for high net worth clients for as long as there have been borders. It’s an enormous topic.
Jobs, new family situations and geopolitics often send people to different countries for different opportunities. All of this can have tax implications around an estate plan . . .
Add in the complications of new asset classes and confusion around citizenship, residence and tax obligations. There is a lot to consider- especially for U.S. citizens with connectivity abroad.
Here to help us think about that is BRENT NELSON . . .
Brent is a Partner at the RIMON LAW FIRM in Tuscon, AZ and represents a variety of cross-border clients.
