A strong dollar and a booming real estate market has made the United States a popular destination for foreign investment. An increase in foreign investment will bring about a large number of complex legal issues that foreign nationals will have to deal with. For example, the estate tax exemption for a U.S. resident is $5.43 million while the exemption for a foreign national is only $60,000. Financial advisor Shomari D. Hearn recommends that foreign nationals “make of their annual gift tax exemptions of $14,000” to try to reduce whatever tax burden they might face. There are many different complex nuances with the estate planning laws dealing with foreign nationals. Canadian citizens get the same estate tax exemptions as U.S. citizens because of a treaty that is in place.
See Miriam Rozen, Special Estate Planning Needs For Foreign Clients, Financial Planning, August 18, 2015.
