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    zap100's Avatar
    zap100 Posts: 10, Reputation: 1
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    #1

    Feb 10, 2008, 01:51 PM
    Estate Tax when beneficiary is Non-US citizen
    As a non US citizen with a deceased spouse, how do I find out if the insurance money that I get is taxed through the estate tax?

    I know that if the amount I receive from the spouse exceeds 2,000,000 then it is subject to a 45% estate tax.

    Do my spouses different life insurance policies through their employer get treated any differently then policies they took out on their own?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 20, 2008, 11:27 AM
    If the insurance policy has the ESTATE listed as the benficiary, then estate taxes may be assesed.

    If YOU are the primary or secondary beneficiary of the insurance policy (be it employer-based or individually-owned), then there are NO estate or income tax liability at all.
    Karons's Avatar
    Karons Posts: 1, Reputation: 1
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    #3

    Feb 20, 2008, 01:45 PM
    If inheriting from out of the country do you have to pay taxes,when the money is in an account beloning to you out of the country? When transferring the money to the U.S. is there taxes to be taken care of?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 6, 2008, 01:26 PM
    You do NOT have to pay taxes, but you may be required to explain from where the money came.

    The bank can help you with that process.
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