Estate Planning For The Non Citizen And Non Resident Alien 2017: Protecting Your Legacy

Are you a non-citizen or a non-resident alien living in the United States? Do you have assets and properties that you want to protect and pass on to your loved ones? Estate planning plays a crucial role in ensuring your assets are distributed according to your wishes. However, as a non-citizen or non-resident alien, unique considerations come into play. In this comprehensive guide, we will explore the intricacies of estate planning for individuals in your situation in 2017.

Understanding Estate Planning for Non Citizens

As a non-citizen or non-resident alien, you may be subject to additional legal and tax obligations compared to U.S. citizens or residents. It is essential to understand these differences to ensure your estate plan is efficient and complies with the law.

One vital area to consider is the taxation of your assets. The United States has specific tax rules for non-citizens and non-resident aliens, including limitations on estate tax exemptions. With proper planning, you can minimize estate taxes and ensure more of your assets go to your beneficiaries.

International Taxation in America, Estate Planning for the Non-citizen and Alien: Estate Planning for the Non-citizen and Non-resident Alien (2017)

by Brian Dooley (Kindle Edition)

4.3 out of 5

Language	:	English
File size	:	157 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	22 pages
Lending	:	Enabled
Hardcover	:	784 pages
Item Weight	:	3.17 pounds
Dimensions	:	6.97 x 1.69 x 9.61 inches

FREE

Legal Considerations for Non-Citizens

When it comes to estate planning, non-citizens face unique challenges regarding property rights, citizenship status, and even probate processes. Understanding these legal considerations is essential to develop a tailored estate plan that meets your specific needs.

Depending on your situation, you may need to establish a trust to hold your assets. A trust can provide you with a range of benefits such as probate avoidance, maintaining privacy, and controlling the distribution of your assets. Working with an experienced estate planning attorney who specializes in non-citizen estate planning will ensure you navigate these complexities effectively.

Benefits of Estate Planning for Non-Resident Aliens

Even as a non-resident alien, estate planning offers numerous advantages beyond minimizing tax liabilities. With a well-designed estate plan, you can protect your assets and ensure your loved ones receive them without unnecessary complications.

One benefit of estate planning is the ability to plan for incapacity. By establishing durable powers of attorney and healthcare proxies, you can determine who will make important financial and medical decisions on your behalf if you become incapacitated. This provides peace of mind to both you and your loved ones.

Furthermore, estate planning allows you to appoint a guardian for your minor children. By setting up a trust, you can not only ensure adequate financial support for your children but also select a suitable guardian who shares your values and beliefs.

Top Tips for Non-Citizen Estate Planning

When planning your estate as a non-citizen or non-resident alien, certain tips and strategies can help optimize your plan and protect your legacy:

1. Consult with an estate planning attorney who specializes in non-citizen estate planning. They have in-depth knowledge of the intricate laws and regulations governing your situation.
2. Consider utilizing trusts to safeguard your assets from unnecessary taxation and to have more control over their distribution.
3. Review your beneficiary designations regularly. Ensure your assets pass directly to your beneficiaries without going through probate.
4. Provide clear instructions regarding your healthcare preferences and end-of-life decisions by creating adequate healthcare directives.
5. Stay informed about changes in tax laws and regulations that may impact your estate plan. Regularly reassess and update your plan to remain compliant.

Estate planning for non-citizens and non-resident aliens in 2017 requires careful consideration and specialized knowledge. By understanding the legal and tax implications related to your situation, you can develop a comprehensive estate plan that protects your assets and provides for your loved ones.

Remember, estate planning is an ongoing process that should be reviewed periodically to ensure its effectiveness. Seek professional guidance to navigate the complexities of non-citizen estate planning and secure your family's future.

International Taxation in America, Estate Planning for the Non-citizen and Alien: Estate Planning for the Non-citizen and Non-resident Alien (2017)

by Brian Dooley (Kindle Edition)

4.3 out of 5

Language	:	English
File size	:	157 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	22 pages
Lending	:	Enabled
Hardcover	:	784 pages
Item Weight	:	3.17 pounds
Dimensions	:	6.97 x 1.69 x 9.61 inches

FREE

Cross-border estate and inheritance planning will save taxes. In this short 16 page book (an excerpt from one of my other books), I explain the tried and true methods of international tax planning for inheritances and gifts.

Multi-national families have special needs because America's laws differ from every other country. Grandparents and parents want the safety of a trust to protect their children.

This international tax book is easy to read and understand with a blueprint to solving the multinational inheritance tax challenges. This tax book provides the best international tax structure for both estate taxes and income tax planning.

You’ll experience page after page of time-tested practical tips, the techniques and the innovative strategies that have helped so many families to overcome their international tax challenges.

With this Kindle book, you will learn the tried and true methods of the wealthy in avoiding estate and gift taxes.

Dooley condensed the complex topic of estate planning into a few easy to read pages.

For example, you will learn why most green card holders are considered nonresidents for American estate tax purposes (the actual tax term is non-domiciled). They have unique estate and gift tax laws.

These tax rules are very different from a resident for income tax rules. This provides the cross-border family with a unique family inheritance planning advantage.

America has few great estate treaties. Dooley's book is one of the few sources for these treaties. If you have clients with family outside the U.S. you must read this book. Cross-border families not only avoid estate taxes, they also avoid income tax.

Finally, this book explains the Qualified Domestic Trust (QDOT) rules in easy English. Here you learn alternatives to the QDOT which are simpler and less expensive.

This Kindle book was updated May 2017

About Brian Dooley, CPA, MBT

Brian Dooley, CPA, MBT has been specializing in offshore taxation since 1980. He has helped numerous accountants and attorneys serve a broad range of individual and business clients in various international tax and estate planning matters.

Also, he has on nine occasions offered expert witness testimony before the U.S. Department of Treasury and the U.S. House of Representatives on issues related to foreign investments, foreign trusts and private annuities.

Mr. Dooley is the founder of International Tax Counselors. His firm brings together a team of attorneys and certified public accountants. With a passion for perfection, the firm assist foreign individuals investing in the United States and Americans with their foreign businesses.

Brian Dooley can be contacted at [email protected]. He is a seasoned international tax specialist. You can learn more about his services at www.IntlTaxCounselors.com.

His experience includes:

* Obtaining private letter rulings and voluntary disclosure agreements from the IRS
* Resolving (on an anonymous basis) undisclosed cross-border tax issues with the IRS
* Advising attorneys and CPA's, since 1976, on 100's of international tax audits and IRS agreements,
* Developing tax-efficient international estate plans
* Implementing strategies that minimize cross-border taxes

Expertise

Brian's forte is obtaining written IRS rulings on tax planning strategies to guarantee savings. He also excels in counseling chartered accountants, CPAs and attorneys in international tax law. He is highly skilled in using the IRS tax-amnesty program, private letter rulings, foreign business tax credits and offshore trusts to help clients: