Archive of entries posted in October 2014

US taxation of Foreign Trusts

A trust is a fiduciary arrangement that allows a third party, or trustee, to hold properties on behalf of a beneficiary or beneficiaries.  Trusts allow for the ownership of certain assets to be transferred from the grantor (one who creates the trust and funds it with assets) and controlled by a trustee for the benefit of a beneficiary. Continue Reading »

US Estate Tax for Nonresident Alien

For estate tax purposes, a person is a “resident decedent” if the person is “domiciled” in the U.S. at the time of his or her death. The estates of resident aliens follow the same rules and regulations as do the estates ofU.S.citizens to determine estate tax liability. However, the estates of nonresident aliens are taxed differently. Continue Reading »