The US gift and estate tax is one of the most misunderstood areas of cross-border planning — partly because "resident" means something completely different here than it does for income tax. You can be a US income tax resident and still not be domiciled in the US for estate tax purposes, and that distinction can be worth millions of dollars.
In part 4 of Navigating the Expatriate Tax Maze, Peter Trieu of BDO lays out:
The domicile test for estate and gift tax — a facts-and-circumstances analysis very different from the income tax bright-line rules
The $15 million lifetime exemption available to US-domiciled individuals
The much smaller $60,000 exemption that applies to non-residents
The 40% rate that kicks in above the exemption thresholds
The curious dual treatment of US stocks — tax-free to gift as intangibles, but fully taxable in the estate at death
Planning moves for non-residents holding US-situs assets
Short, sharp, and essential for anyone with cross-border family wealth.
Brought to you by CAW Network USA in partnership with BDO.
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