Publicus wrote:
> To your comment: "Why bother, because if her husband should
> die, she will lose nearly 40 percent of the estate to taxes: that goes
> for jointly held assets as well as assets in her name or his name -
> community property. The difference is being able to keep her hard
> earned assets and live without worry as opposed to being forced to work
> in her retirement years and probably not being able to hang on to her
> home. I understand there are others who are worse off, but becoming a
> US citizen will protect the estate from being taxed at least until she
> dies as well."
>
> I know of no law that will prohibit her from her right to her estate if
> she is legal here. The law protects US citizens and permanent residents
> equally when it comes to finances. Maybe criminal law is not equal for
> all, but it was my understanding that business law is equal. I think
> she should speak to an estate and wills attorney, and or a financial
> planner and see what her choices are. And please inform her to get a
> second opinion from different professionals whenever she cans.
>
> And you are right. It is commendable of you to look out for your
> friend. :)
I've had professionals tell me that her status as a permanent resident
has a bearing on how the estate tax will be applied. It will be applied
the same as it would for a non-spouse.
One alternative is to transfer all property and assets to the names of
the children and trust they will take care of their mother; but, such
an action is legally complicated, expensive and incurs taxation itself.
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