1,986
22
Essay, 2 pages (250 words)

Discussion post

Response Response The transfer of the assets to a single US trust does not make a difference if Noel or Marsha dies first. Such is because the trust is created for possession by Cynthia when both parents die and not when one parent dies. This is because the tax that is applied by the U. S. government on residents and nonresidents is the same on all the assets. Such an answer is the same if Marsha was a US citizen since there is no discrimination in the process of tax application to U. S. and non U. S. citizens. As such, the federal tax department levies the same tax rates for the assets of both residents and non residents in U. S (Matthew Bender and Company, 2012).
If the creation of the trusts occurs less than 3 years before the first deaths, then the assets are vulnerable to tax credit reduction, which is based on the ratio that is dictated by the federal estate tax. Such occurs because there are different rates applied to trusts based on the dates of establishment of such trusts. However, a decision by Cynthia to focus on giving up her U. S. citizenship to that of Morocco will have an impact on the trust. At first, there will be several legal procedures to establish whether she is the real owner of the trust. Further, such a trust will be subject to taxation and reduction as determined by the federal tax department. The rates of these reductions and taxation will be different compared to when she would have maintained her U. S. citizenship.
References
Matthew Bender and Company. (2012). International estate planning. Lexis Nexis Group.

Thank's for Your Vote!
Discussion post. Page 1
Discussion post. Page 2

This work, titled "Discussion post" was written and willingly shared by a fellow student. This sample can be utilized as a research and reference resource to aid in the writing of your own work. Any use of the work that does not include an appropriate citation is banned.

If you are the owner of this work and don’t want it to be published on AssignBuster, request its removal.

Request Removal
Cite this Essay

References

AssignBuster. (2022) 'Discussion post'. 20 January.

Reference

AssignBuster. (2022, January 20). Discussion post. Retrieved from https://assignbuster.com/discussion-post-essay-samples/

References

AssignBuster. 2022. "Discussion post." January 20, 2022. https://assignbuster.com/discussion-post-essay-samples/.

1. AssignBuster. "Discussion post." January 20, 2022. https://assignbuster.com/discussion-post-essay-samples/.


Bibliography


AssignBuster. "Discussion post." January 20, 2022. https://assignbuster.com/discussion-post-essay-samples/.

Work Cited

"Discussion post." AssignBuster, 20 Jan. 2022, assignbuster.com/discussion-post-essay-samples/.

Get in Touch

Please, let us know if you have any ideas on improving Discussion post, or our service. We will be happy to hear what you think: [email protected]