1.
Is a Qualified Domestic
Trust?

2.
There is a federal estate tax in the
United States
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Elder Law and Estate Planning

3.
It is potentially applicable on
large asset transfers
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Elder Law and Estate Planning

4.
The tax can have a heavy impact,
because lt carries a maximum rate
of 40 percent
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Elder Law and Estate Planning

5.
. NH /4

6.
The amount of the federal estate tax
exclusion is $5.34 MILLION IN 2014
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7.
This is the amount that you could
transfer free of taxation
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8.
Anything that you want to transfer that
exceeds this amount is potentially
subject to the federal estate tax
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9.
"«l 1 ‘ . .; _ 3
I ‘I - c l '
I ‘ . : .

10.
There Is an unlimited marItal estate
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11.
This allows you to leave unlimited
resources to your spouse free of
taxation, if your spouse is a United
States citizen
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12.
You do not have to use any of your
$5.34 million exclusion to leave a
tax-free bequest to your spouse
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Elder Law and Estate Planning

13.
Non-Citizen Spouses

14.
The unlimited marital deduction is
not available to a non= citizen spouse
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Elder Law and Estate Planning

15.
There is however an estate planning
solution if you are married to a
citizen of another country
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Elder Law and Estate Planning

16.
Qualified Domestic Trusts

17.
If you are married to a non-citizen,
you could make your spouse the
beneficiary of a qualified domestic trust
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Elder Law and Estate Planning

18.
During the term of the trust, the
ESTATE TAX would not be applicable
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19.
The trustee could distribute earnings
from the trust to your spouse
throughout hs or her life
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Elder Law and Estate Planning

20.
_t These distributions
’ I ’ ' would be subject to
7 income taxes, but
, the estate tax would
4 not be levied

21.
Under some circumstances, the
trustee may distribute a portion of
the principal
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22.
HOWEVER, any distributions of the
principal would be subject to the
estate tax
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23.
If you are a high net
worth individual, you
should explore estate
tax efficiency
strategies
MARK S. EGHRARI
Elder Law and Estate P/ mm! ‘/Ig

24.
Our firm offers free consultations to people
in and around Smithtown, New York.
Contact us to set up an appointment
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25.
A
Leam More
About Tax
Efficiency
Strategies
l I .
I) “ I

26.
Click to visit
myestatep| an. com
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Contact Information
50 Karl Avenue,
Suite 202
Smithtown, NY 11787
(631) 265-0599
Website
www. myestatep| an. com