Tag Archive for Cross-Border Families

Estate Tax Planning for Cross-Border Families and Foreign Nationals

TaxConnections Picture - Estate and Trust - square

Multi-national families have numerous issues associated with Nonresident Alien Parents who are considering transferring their wealth to their U.S.-resident children. The Nonresident Alien Parents’ goal is to pass the assets to the children when the surviving parent dies, and ensure that successive wealth transfers to future generations are made without U.S. estate tax, or generation-skipping transfer tax while minimizing U.S. income tax on investment income.

Residence of a Trust

A trust will be considered domestic if:

(i) a U.S. court can exercise primary supervision over trust administration (the “Court Read more