We have an unlimited marital deduction in the United States that applies to the estate tax. If you are married, you can bequeath money to your spouse in any amount without incurring estate tax liability. Transfers to everyone else are potentially taxable at a maximum rate of 40%. We say "potentially" because there is a $5.34 million exclusion in 2014. Your assets must exceed this amount before the tax would kick in. The powers that be expect to be able to collect their taxes eventually because … [Read more...] about Foreign Spouse Not Entitled to Unlimited Marital Estate Tax Deduction
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