Estate Planning for Americans with Assets in India
New Jersey is a very diverse state, and I have quite a few clients of Indian heritage. Accordingly, I thought I would share some advice regarding estate planning for Americans with assets in India: India does not have an estate or an inheritance tax; There is no treaty with respect to the US and India […]
Gifting to US residents – who pays the gift tax?
I am frequently asked some variation of this question: “My father is a citizen of country X, and wants to make a gift to me. Is there any tax?” I then get to give a lawyer’s favorite answer. It depends. It depends: Where is the person making the gift (the “Donor”) domiciled? What is the […]