Citizenship is extremely important
when it comes to estate planning. In general, a US citizen may transfer an
unlimited amount of assets to their citizen spouse during life or after
death. However, this is much more
limited when a spouse is not a US citizen.
If there is a concern that your
estate could be valued over the estate tax exemption amount, then a Qualified
Domestic Trust (“QDOT”) should be considered.
The QDOT trust allows a non-US spouse to take the marital deduction on
estate taxes. Interested in learning
more? Contact the experienced attorneys of Morris Law Group.
Love what you're doing here guys, keep it up!.. Elder Law Attorney in New York
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