What’s the difference between residency and domicile for tax purposes? High profile cases such as Prince Harry’s marriage to Meghan Markle made headlines, however, encountering cross-border planning is no longer a rare event. Many non-royal families commonly face complex international tax issues. The importance of developing an estate plan that not only fulfills the multi-jurisdictional […]
International Tax Planning 101 Read More »
The past month included important tax law developments that will significantly affect certain individuals. Some of these tax law changes included: dramatic changes to retirement plan payouts, final regulations confirming no estate tax clawback, and a ruling confirming trustee’s severance and spouse’s disclaimer of interest in marital trust. Final regulations confirm no estate tax clawback—Treasury
Tax Law Update: February 2020 Read More »
Under the Act, estates would be taxed at a rate structure starting at: 45% for estates valued between $3.5 million and $10 million, 50% for those estates valued between 10% million and $50 million, An increased rate of 55% (instead of the current 40%) for estates valued between $50 million and $1 billion ….while estates
New House Bill Aims To Lower Exemption Amount Read More »
