Application of U.S. Estate Tax Laws to Non-U.S. Citizens: Domicile, Situs of Assets, Tax Treaties, and More
Recording of a 90-minute CLE/CPE video webinar with Q&A
This CLE/CPE webinar will provide trusts and estates counsel a detailed analysis of the application of U.S. estate tax to non-U.S. citizens. The panel will focus on relevant tax rules and potential estate and gift tax planning pitfalls, opportunities, determining the domicile of individuals for U.S. transfer tax purposes, where assets are sited for U.S. transfer tax purposes situs of assets, and when and how the application of estate or estate and gift tax treaties may apply, including the estate tax provisions of the Canadian income tax treaty. The panel will outline and analyze hypothetical scenarios and offer effective planning techniques for estate planners.
Outline
- Domicile for U.S. transfer tax purposes
- Situs of assets
- Tax issues and application of tax treaties
- Planning strategies and pitfalls to avoid
Benefits
The panel will discuss these and other key issues:
- How do non-U.S. citizens become subject to U.S. estate tax on their estate?
- What are the key considerations in determining domicile for U.S. transfer tax purposes?
- How does the situs of assets impact application of U.S. transfer tax rules?
- What U.S. transfer tax rules apply to non-U.S. citizens?
- What reporting issues do counsel need to be aware of when U.S.-domiciled individuals receive gifts and bequests from nonresident aliens?
- What inheritance tax rules apply to the U.S. heirs of certain former U.S. citizens and long-term permanent legal residents?
- What are the planning opportunities for managing the U.S. inheritance tax?
Faculty
Lalit Kundani
Partner
Bridge Law
Mr. Kundani leads the law firm’s award-winning Trust & Estate Planning practice group. He has been recognized... | Read More
Mr. Kundani leads the law firm’s award-winning Trust & Estate Planning practice group. He has been recognized by Newsweek, The National Advocates, Super Lawyers, and the American Institute of Family Law Attorneys as a leading attorney in his field. Mr. Kundani is known for his detailed approach to planning. His clients include high-net-worth and ultra-high-net-worth individuals, judges, public officials, fellow lawyers, physicians, actors, venture capitalists, and business owners.
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Burgess Raby
Principal
Raby Law Office
Mr. Raby's practice focuses on international tax matters, including planning for foreign investment into the United... | Read More
Mr. Raby's practice focuses on international tax matters, including planning for foreign investment into the United States, planning for United States persons investing and undertaking businesses outside the United States, ownership of foreign real estate by United States persons (FIRPTA), and ensuring that all United States reporting requirements are met, including FATCA, FBARs, and various IRS information returns. He also includes advising start-up companies and tax litigation matters, both international and domestic.
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Melvin A. Warshaw, Esq., L.L.M.
Attorney
Melvin A. Warshaw
Mr. Warshaw has nearly 40 years of experience as a U. S. estate planning and tax lawyer. He currently represents U. S.... | Read More
Mr. Warshaw has nearly 40 years of experience as a U. S. estate planning and tax lawyer. He currently represents U. S. and non-U. S. high net worth individuals, families and companies on a wide range of personal and business tax matters, especially in connection with cross-border income and estate tax planning and compliance in the U. S. Mr. Warshaw is admitted to practice in the Commonwealth of Massachusetts. He regularly advises non-U. S. clients on structuring inbound pre-immigration tax strategies including basis step-up in legacy assets, avoiding the U. S. CFC and PFIC anti-deferral tax regimes, optimizing use of foreign tax credits, minimizing green card status as well as advising on and drafting of “drop-off trusts.” Mr. Warshaw also advises long-term green card holders and U. S. citizens on planning to minimize their U. S. exit tax through gift programs, managing equity compensation and by drafting “expatriation” trusts and considerations of a change of domicile outside the U. S. He has also counseled clients in complying with their U. S. tax filing obligations by engaging accountants and bringing such taxpayers into compliance with their numerous U. S. international tax reporting requirements. Mr. Warshaw has also advised on the U. S. international tax aspects of cryptocurrency, including how to become U. S. tax compliant and how to mitigate U. S. tax implications prior to and following renouncing U. S. citizenship.
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