Non-resident foreign nationals that own assets such as real estate and securities in the U.S. have unique tax planning considerations that they are often unaware of, and these can be challenging to address.

Non-resident foreign nationals are limited to a $60,000 exclusion on all U.S. based assets.

This includes all tangible property, real estate, stocks and other securities, and ownership in any corporation based in the U.S.

Unlike U.S. residents, there is no marital deduction for non-resident foreign nationals.

This means that upon death, after the $60,000 exclusion, non-resident foreign nationals are subject to the federal estate tax of 40% on all assets based in the U.S.

Lifetime Insurance Planning does not provide legal or tax advice. We can refer you to an expert estate planning attorney.

How Does Life Insurance Help Non-Resident Foreign Nationals?

Life insurance allows you to control your estate and your wishes and provides a tax-free benefit to offset any estate taxes owed.

Life insurance proceeds are not considered a tangible U.S. based asset and are not subject to U.S. estate taxes for non-resident foreign nationals.

Life insurance proceeds are paid out to a beneficiary free of U.S. income tax.

Life insurance proceeds can be used to pay any U.S. estate tax that will be owed by the estate of a non-resident foreign national.

The life insurance market in the U.S. is extremely stable and mature. It is regulated at the state and federal levels.

Life insurance contracts are based on the U.S. dollar which provides stability, diversification and security.

Life insurance contracts in the U.S. provide a level of privacy and confidentiality which is attractive to many wealthy individuals.

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