REFERENTEN
Paula M. Jones, Esquire, Principal and Founder, Jones Estate Group
TOPIC
The webinar will explain the transfer tax regime on “covered gifts” and “covered bequests” from covered expatriates, outline tax and reporting obligations (including the new Form 708), and illustrate practical planning strategies and traps for U.S. beneficiaries.
Topics discussed:
- Identifying who qualifies as a "covered expatriate" and how to avoid this characterisation.
- Distinguishing between covered gifts/bequests and non-covered transfers under Section 2801.
- Exploring new Form 708: how the Section 2801 tax is calculated, including the use of the annual exclusion and applicable tax rate.
- Applying the rules to common fact patterns involving U.S. heirs of expatriates and identifying planning opportunities to reduce or avoid Section 2801 exposure.
SPEAKER CV
Paula M. Jones has been practicing international estate law since 1999 and started her own firm, Jones Estate Group, in 2015. She advises high net worth individuals and business owners on matters of U.S. estate and gift taxation, qualified domestic trusts, residency determinations, tax treaty applications, pre-immigration planning, expatriation tax planning, administration of estates of foreign individuals with U.S. property, foreign account and asset compliance issues and migration of trusts.
Paula is an adjunct professor at Western New England University School of Law where she teaches International Estate Law. She is Chair of the STEP Cross-Border SIG Committee and has authored several articles in respected industry journals such as Trusts and Estates, AICPA’s Tax Advisor and the ABA’s Practical Tax Lawyer.
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