Did you know that if you are a Resident Alien (RA) or a Non-Resident Alien (NRA), you are subject to a different estate and gift tax structure than U.S citizens? Most non-US citizens are oblivious of the impact of US death taxes until tragedy strikes in their own home or in the home of a close friend or family member. That experience is eye-opening for an innocent non-US citizen spouse who inadvertently transfers over assets of her deceased spouse after his death into her name thinking she was rightfully claiming what is (or should be) hers.
Most of us are aware that a US citizen may make unlimited lifetime gifts to his or her U.S. citizen spouse without gift tax consequences because the gifts will qualify for the unlimited gift tax marital deduction. Code § 2523. However, non-US citizen spouses are not that fortunate. Based on the type of visa status they have in the United States, the taxation system is very different for estate and gift taxes.
RLG is equipped to help your family with assets both here in the United States as well as those that might be overseas. We will guide the family on how your citizenship or resident status affects your viable options, and we will help you find the best route to take so that your estate passes down to the lawful beneficiaries according to your wishes. Whether your concerns include the reduction of the estate tax burden upon death, provision of creditor protection and privacy to families and their assets, or assets located in multiple countries, RLG is prepared to address them to your satisfaction and meet your objectives with individually-crafted international estate plans based on your needs.