REFERENTEN
Paula M. Jones, Esquire, Principal and Founder, Jones Estate Group, International and Domestic Estate Law.
TOPIC
This webinar provides a comprehensive introduction to the Section 2801 transfer tax regime, with particular focus on the final regulations and the newly released Form 708. The speaker will examine who qualifies as a covered expatriate, how covered gifts and bequests are identified, taxed, and reported, and what practical planning strategies, and traps, U.S. beneficiaries should be aware of. We will also consider what steps both the expatriate and U.S. heirs can take to reduce or avoid Section 2801 exposure.
- 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.
SPEAEKER 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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