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  • schedule 90 minutes

Estate Planning for Mixed Nationality Couples: Key Issues and Strategies for Both the U.S. and Non-U.S. Spouse

Tax Resident Status, Spousal Deduction, QDOTs, Income Tax Issues, Gifting Strategies and Shifting Tax Burden, Trusts, and More

$297.00

This course is $0 with these passes:

CLE
CPE
ALL
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About the Course

Introduction

This CLE/CPE webinar will give estate planners and advisers an in-depth discussion of various challenges and estate planning techniques for mixed-nationality couples. The panel will discuss key planning considerations and available options, the impact of tax resident status on estate planning, and U.S. citizenship-based taxation planning repercussions where one spouse is a U.S. citizen. The panel will explore challenges for couples who live and work outside the U.S. and are subject to tax rules of multiple countries, gifting and shifting the tax burden to the non-U.S. spouse, and other vital issues.

Description

Estate planning for mixed nationality couples involves a comprehensive understanding of various rules and regulations to minimize income, estate, and gift taxes for both the U.S. and non-U.S. spouse. Estate planners and advisers must understand current U.S. estate and gift tax rules, applicable tax treaties, and available mechanisms to avoid the adverse consequences of an improperly structured estate plan for mixed nationality couples.

Spouses may have different citizenship and residency status, which can significantly impact the estate plan. When structuring an estate plan and implementing gifts and other transfers, counsel and advisers must consider (1) immigration and tax resident status; (2) joint versus separate ownership of certain U.S. and non-U.S. assets; (3) available techniques to shift the tax burden; and (4) the use of certain types of trusts to minimize taxes.

Estate planning attorneys and tax advisers must also identify tax opportunities and risks for clients, understand the reporting issues that apply to both the U.S. and non-U.S. spouse, recipients of gifts, and the application of estate and gift tax treaties and exceptions.

Listen as our panel of estate planning attorneys experienced in international issues discusses the estate, gift, and generation-skipping transfer tax rules that apply to mixed nationality couples. The panel will also outline planning scenarios and key potential trouble spots and opportunities.

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • CPE credit is not available on recordings.

  • BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, November 5, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Estate, gift, and GST tax rules impacting mixed nationality couples
  2. Sample estate planning scenarios
  3. Trouble spots and pitfalls to avoid
  4. Estate and gift tax treaties
  5. Planning opportunities

The panel will review these and other key issues:

  • What estate, gift, and generation-skipping transfer tax rules must be considered for mixed nationality couples?
  • How do immigration and resident tax status impact available planning opportunities?
  • What issues arise for joint and separate ownership of assets?
  • What gifting mechanisms are available to shift the tax burden to non-U.S. spouses?
  • What planning is available in light of a lower personal exemption/unified credit for non-U.S. persons?
  • Incorporating estate and gift tax treaty benefits or exceptions into the estate planning strategies

Learning Objectives

After completing this course, you will be able to:

  • Identify which estate, gift, and generation-skipping transfer tax rules apply to mixed U.S./non-U.S. couples
  • Understand key tax reporting issues for U.S. citizens who are recipients of gifts and bequests from nonresident aliens
  • Recognize how the tax rules and reporting apply to different estate planning scenarios involving families and individuals with differing citizenship/resident/alien statuses
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, drafting wills and trust documents, supervising other attorneys or estate planners. Specific knowledge of concepts regarding taxation of foreign investments held by U.S. taxpayers; familiarity with tax treaty provisions.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .