HOW TO DO ESTATE AND TAX PLANNING FOR ISRAELI RESIDENTS WITH US-BASED ASSETS
Estate tax planning is a must. The unified US gift and estate tax for US citizens currently has an exemption threshold of $5.35 million adjusted for inflation, beyond which the IRS taxes at a 40% rate. For non-citizens, the estate tax exemption is only $60,000 adjusted for inflation for US-based assets. The Internal Revenue Code, regulations, and IRS rulings provide those with assets approaching or above the exemption threshold to legally and prudently plan for the future and save millions in estate tax liability. In addition, it is possible to use trusts to take advantage of charitable deductions for income purposes. Prudent planning begins with the right legal solutions.
February 25, 2021
November 15, 2019