Strohmeyer Law Firm Blog in Houston, Texas
It should come as no surprise that those who’ve worked hard to create wealth look to asset protection planning to ensure that wealth doesn’t end up in somebody else’s hands.
While many people take great care in planning their estates, important family members are typically left out of their planning: the pets.
As with the income tax, U.S. citizens and residents are subject to worldwide taxation by the three wealth transfer taxes: the estate tax, the gift tax, and the generation-skipping transfer tax.
The digital economy makes it easy for people and money to move across international borders. If the United States is not involved, then generally a nonresident of the United States will have few, if any, interactions with the IRS.