Questions tagged [estate-planning]
The estate-planning tag has no usage guidance.
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How to set up passive income from investments for children?
Let's imagine the following: Mr. Leopold is an investor. He managed to save fifty million rubles by investing by now. He has children, but he is afraid that they will waste all his fortune after he ...
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Should my trust be the beneficiary of my annuities?
My home and additional acreage are in a revocable trust. I also have IRA annuities and non-qualified annuities. At this time the beneficiaries are my three adult children. At my death, I would like ...
- 31.7k
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If i'm a cosigner on my dad's bank accounts but my sister isn't, how do I ensure my sister can get 50% of the money without owing taxes?
I'm a cosigner on my father's bank accounts. More specifically, the bank account is a multi party account with right of survivorship and I'm told that means I'll still have access to the money in it ...
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Can I buy my personal residence with a 1031
So this is not the typical "can I a home with a 1031 to live in". I know those rules. My question is a bit different.
I have lived in my primary residence for more than 2 years. I would ...
- 174k
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Are non-US funds held at US brokerages by non-resident non-citizens liable for Estate Tax?
Are funds held at US brokerages (e.g. Interactive Brokers) by non-resident non-nationals liable for US Estate Tax even if the funds are invested in non-US stocks?
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is a US brokerage account for non-resident considered to be a US situs asset?
Assume a person that's not domiciled in the US. That person has a US brokerage / trading account (say in Fidelity or Charles Schwab) that holds shares of various listed companies (both US-based and ...
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Disclaiming part of an Inheritance
Say a relative passes and leaves all of his money to two of his three children.
His original will split the estate evenly among his three kids but before he passed he had several strokes, and in a fit ...
- 140k
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Covering estate tax on US assets for non-resident alien
I am a non-resident alien holding a brokerage account in the USA but residing outside the USA. My country does not have an estate tax treaty with the USA. So my estate is liable for a significant ...
CommunityBot
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Seeking information about medical and financial issues
I have an elderly cousin who lives far from me who I assist with some of her financial affairs. She is a widow, has no children, nor does she have any relatives or trusted friends locally who can ...
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Would foreign stocks held in a US brokerage account by a nonresident alien be subject to US estate taxes?
Suppose a non-resident alien investor has a US brokerage account at a US stock brokerage firm that has access to many foreign stock markets. The investor uses the US brokerage account to buy shares of ...
- 174k
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Avoiding estate taxes on US ETF investments for non-US citizen
Typically I have been investing in Vanguard ETFs e.g. VXUS, VTI etc. via a US brokerage (Drivewealth). As I near the $60,000 limit for the estate tax exemption (non-US citizen, resident outside US, no ...
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UK inheritance tax for Jersey-born British passport holder living overseas?
I was born in Jersey, where there is no inheritance tax. I have a full British passport which doesn’t have the page about being a crown protectorate because it was issued in Beijing. I have never been ...
- 121
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Are ADRs of US stocks purchased on non-US exchanges subject to US Estate Tax if held by non-resident non-nationals?
US stocks are traded on many European exchanges via an arrangement similar to the US ADR (the UK term is "CREST")
If you hold US stocks in such indirect way as a non-resident non-national ...
- 10.4k
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UK pension (SIPP) of a non-US citizen (and non-US resident) invested in US stocks - is it liable for US estate tax?
The title pretty much sums it up:
I am not residing in the US and I'm not a US citizen. I do have a UK pension (SIPP) which is invested in US stocks. The SIPP is held with Interactive Brokers which is ...
- 10.4k
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Probate in Pennsylvania
My husband and I have named our daughter as beneficiary to all our financial accounts. After our death will she be able to get the money without probate? We live in Pennsylvania. Thanks.
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No provision for beneficiary at HSBC
Background: My wife and I live in California (if that matters) and have a living trust.
My wife and I recently opened an online savings account at HSBC. APY is 2.01 which was the motivation.
HSBC ...
- 56
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1
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$1.44 million in holdings: Help my non-retired, 80-year-old dad invest it [closed]
tl;dr My 70'ish mother and 80-year-old, non-retired father have combined holdings of ~$1.44 million, haphazardly scattered over a number of instruments; help me help them design an intelligent ...
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Foundation vs. DAF vs. Trust
Is there a mechanism by which you can put aside a lump sum of money (before or after your passing) wherein the money can just sit and earn interest in a safe investment in perpetuity and disbursements ...
CommunityBot
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US gift/estate tax on transferring money back and forth
My parent gifted me a sum of money and then realized they needed it back for a future financial obligation. Based on my (possibly incorrect) understanding of gift/estate taxes, each transfer back and ...
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1
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What happens to all my assets outside US if I die?
The event: I am Brazilian and a Green Card holder and I bought a house in Brazil.
First question: Do I need to register this house in my tax return here in US?
Second question: Suppose the scenario ...
- 31.6k
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1
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How to keep a will up-to-date?
I am not sure if I have a misunderstanding about how the will works.
Scenario: Let's suppose I:
have accounts in RobinHood, TD Ameritrade and Wells Fargo.
then I prepare my will listing all these ...
- 31.7k
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Brokerage in US Bank Won't Print TOD name on Monthly Statement
I am in USA and have Brokerage account with Bank. When I opened account, I said who it should Transfer On Death (TOD).
When I get monthly statement, it said "TOD ", but it does not print ...
- 140k
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In what sequence should I do these tasks?
I bought a house as an unmarried individual with a conventional mortgage. Years passed, i gained a spouse and child, and the three of us live in the same house. Now I want to do the following things:
...
- 140k
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0
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Minimizing estate tax on US assets of non-resident alien [duplicate]
There is an estate tax of 40% on US situs assets of non-resident aliens. Is there any way to minimize this tax using, for example, trusts? Can someone elaborate on this?
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What happens if I co-sign a loan and the borrower or debtor dies?
What happens if I co-sign a loan and the borrower or debtor (the person that borrowed the money) dies?
Does the co-signer then assume full liability over the loan, i.e. become the new and sole debtor?...
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Trust vs. Foundation vs. DAF
Is there a mechanism by which you can put aside a lump sum of money (before or after your passing) wherein the money can just sit and earn interest in a safe investment in perpetuity and disbursements ...
- 4,277
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1
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Do we need a revocable living trust?
I'm considering setting up a trust for my father but would like a second opinion before meeting with an estate planning attorney.
His estate is fairly simple; a home, bank accounts, a CD, a vehicle, ...
- 31.7k
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Are funeral plots a good investment?
At the risk of sounding morbid, is it worth looking into cemetery plots/mausoleum storage? Is it correct to assume that these costs will increase over time?
- 21k
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Avoiding estate tax by giving multiple gifts
From my understanding in the US, a father can give an individual gift of $15,000 to a child (or anyone) without any tax liabilities and without impacting the lifetime allowance. If the father wants ...
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Suggestions on how to distribute jewelery and other valuable personal property to the beneficiaries of my will?
I have a number of cousins to whom I have left in my will, in equal shares, a minority portion of my cash and investments. The rest goes to charities. I also have some valuable jewelry and other ...
- 27.3k
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Special bequests in a will
My mother has several special bequests to grandchildren in her will. She would like to gift that money to them before her death and get signed statements from them saying they received it. Is that ...
- 21k
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1
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Does the primary residence capital gains exclusion apply to irrevocable trusts?
I expect that with a revocable trust the capital gains tax exclusion ($250,000 in gains) on my primary residence will still apply. Does that tax exclusion apply when I place my house in an irrevocable ...
CommunityBot
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Can a parent legally qualify for section 8 housing by transferring all assets to their child?
My mother wants move out of her large house and into an apartment.
She wants to move to section 8 housing which has lower rents, but first must get rid of all her assets to qualify.
Is it legal for ...
- 21k
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1
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What are risks / expenses to buy a house in Germany?
I think about buying a house in Germany (Frankfurt).
How can I learn full list of expenses I should pay next at least ~15 years?
My friend scares me that there are always hidden problems like central ...
- 4,487
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Value of mother-in-law cottage for purposes of will
Let's say there's the following scenario. A couple who are homeowners and parents of three adult children build a small, one-story detached mother-in-law cottage (500 sq. ft.) with kitchen and ...
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Does life insurance cover one's funeral costs, or should I save for it separately? How much?
What is common practice? What does it usually cost? Should I be thinking about this?
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Does Australia impose estate tax on foreigners investing in the Australian stock market?
Suppose a non-Australian, say a Singaporean, owns AUD $100k worth of Australian stocks and dies suddenly. Will estate tax be imposed on him? If yes, roughly how much?
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Money-market or cash-type ETFs for foreigners with U.S brokerage account
Non-US investors who have cash in their U.S brokerage accounts, say Interactive Brokers, will be subjected to U.S estate tax. What are some securities, ETFs that are close to cash that these foreign ...
- 10.4k
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Is U.S estate tax applicable to joint brokerage account of non-US citizens if one party dies?
This person has a joint account in Interactive Brokers with his wife. The couple are not U.S citizens. Suppose the husband passes away suddenly without warning. Is the joint account subjected to U.S ...
- 31.7k
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Does this sound like a great idea regarding being a landlord and starting a real estate empire?
I want to build a small empire of my own over time in real estate. I want to pay 20% for a house and rent it out for a small profit (hopefully make around 3 - 5k a year in profit) and then pay it off ...
- 21k
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Mechanism for long-term control of estate distribution?
This is an estate planning question. I want to accomplish certain longer-term control over distribution of assets and I'm wondering if there is a standard mechanism for doing it.
Situation
Say I ...
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Where should I put my will so that it can be easily found when the time comes?
This has been puzzling me for a while. What is the best place to keep a last will and testament so that it can easily be found and executed obviously without any help from me?
I've seen a lot of ...
CommunityBot
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How should I leave money to a minor?
I'm single and have no children of my own. I'm contemplating leaving a little bit of money that I currently have set aside to my cousins kids (3 of them). I'm talking about less than 20,000 split ...
- 53k
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Is there a benefit, long term, to life insurance for a youngish, debt, and dependent free person?
Something that has been nagging at me lately.
Let's take a person:
30 years old, US, non smoker, no significant medical problems
No debt (of any kind, mortgage, student, or credit card)
No plans to ...
- 50.7k
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1
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Can you transfer a Roth IRA to someone else?
My friend's uncle manages a Roth IRA for him that is in my friend's name. He has had this account open since my friend was little (obviously before he was earning any income of his own).
I don't know ...
- 31.7k
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0
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Estate settlement question regarding paying promissory notes
I was the beneficiary of a life insurance policy after my loved ones death, along with 3 other family members. Before I even received the check, the estate was asking me for money back, from each of ...
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taxes on home if quit claimed to son in entirety, but mom still lives there
Will my thirty-year-old son have to pay taxes on my home if I quitclaim him to the title? What if he just owns one-half of the home; how will that affect his taxes? We live in Boise, Idaho and he ...
- 140k
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What happens when my 401K beneficiary is not my child, nor spouse?
I'm single and no child. My 401K beneficiary is my nephew. Should I pass away and he "inherits" my 401K, what will happen to it? How much will he be taxed for it? Is there a way to avoid any ...
- 31.7k
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Employer wants a key man insurance policy on me, should I agree?
Friend is working for a small company as main person in charge of operations. The president is asking them to take out a key man life insurance policy on them. The benefit would pay out to the company....
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Life Insurance Policy for my Dad
My dad want me to get a life insurance policy on him. I have no clue where to start or even what type of questions to ask. What are the positives and negatives of buying a policy. Is it a sound ...
- 116k