Hi Folks,
This is luckily a hypotethical question (for the time being):
If a GC holder's parent(s) die back in the home-country, is there any obstacle to child inheriting the parent's property/money while he/she is in the US?
Does the US-IRS have any stake in the inheritance? I mean does the Estate Tax apply to immigrants who inherit property/money from overseas relatives?
If so, it sounds morally dubious. You have the treasury of the richest country on earth laying claims to properties of deceased people from (mostly) 3rd world countries. Last of all, do you know of any *legal* estate-tax shielding strategies for such overseas cases?
Thanks!
This is luckily a hypotethical question (for the time being):
If a GC holder's parent(s) die back in the home-country, is there any obstacle to child inheriting the parent's property/money while he/she is in the US?
Does the US-IRS have any stake in the inheritance? I mean does the Estate Tax apply to immigrants who inherit property/money from overseas relatives?
If so, it sounds morally dubious. You have the treasury of the richest country on earth laying claims to properties of deceased people from (mostly) 3rd world countries. Last of all, do you know of any *legal* estate-tax shielding strategies for such overseas cases?
Thanks!