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Wills, Trusts and Estate Planning : Includes Living Trusts, Estate and Gift Tax Planning, etc.
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  #1  
Old 03-07-2001, 05:40 PM
Junior Member
  
Join Date: Dec 2000
Posts: 12
I am aware that my British wife would have to pay a heavy foreign tax on my life insurance benefits upon my death. However, if I have the benefits made payable to my revocable living trust, with my wife as the trustee. Would this keep the IRS away, avoiding the foreign tax?

And if not, whatelse can I do. We plan on moving to England in two years but right now I want to be able to keep the insurance money intact for her and our child if I die before.

Thank you,

Jerry
  #2  
Old 03-09-2001, 12:53 AM
Senior Member
  
Join Date: Dec 1999
Location: Several States
Posts: 4,500
I think youare worried about US estate taxes, as the spousal exemption does not apply if the spouse is not a US Citizen. I think you'd need a QDOT, for foreign citzens.
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