Skip navigation

Fleece the Fleeing

Giving up a U.S. passport carries a hefty new price tag. A new law subjects certain individuals who expatriate or give up their green cards to immediate tax on the inherent gain on all of their worldwide assets and a tax on future gifts or bequests made to U.S. citizens or residents. Trustees of non-grantor trusts with beneficiaries who expatriate are required to withhold tax from certain distributions
Resources

Giving up a U.S. passport carries a hefty new price tag. A new law subjects certain individuals who expatriate or give up their green cards to immediate tax on the inherent gain on all of their worldwide assets and a tax on future gifts or bequests made to U.S. citizens or residents. Trustees of non-grantor trusts with beneficiaries who expatriate are required to withhold tax from certain distributions and pay the tax over to the Internal Revenue Service. These onerous and far-reaching

All access premium subscription

Please Log in if you are currently a Trusts & Estates subscriber.


If you are interested in becoming a subscriber with unlimited article access, please select Subscription Options below.


Questions about your account or how to access content?


Contact: [email protected]

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish