Married couples in which one of the spouses is not a U.S. citizen must include special provisions in their estate plans or face potentially onerous tax consequences. That special planning is a qualified domestic trust, commonly abbreviated as a QDOT trust. QDOT trusts are used when an American citizen wants to transfer assets to his or her non-citizen spouse. Assets passed in a QDOT have the benefit of the unlimited marital deduction so a citizen spouse can pass as much as he or she wants … [Read more...] about Special Planning Considerations for Non-Citizen Spouses
Planning for Non-Citizen Spouses
Where Do It Yourself = Do It Wrong
An estate plan is an important part of one’s plan for the future. Many realize that they need the assistance of an experienced and qualified attorney to assist them in their efforts. Unfortunately, some folks will cut corners in their estate planning efforts in an effort to save a few bucks or because they think they are as smart as or smarter than their estate planning lawyer when it comes to drafting documents or both. Even with persons who were prudent enough to have their original plans … [Read more...] about Where Do It Yourself = Do It Wrong
