GLOSSARY · TAX & ESTATE
US-situated assets (estate tax)
The assets on which US estate tax can fall when the person who died was neither a US citizen nor domiciled in the US. They include US real estate, tangible property in the US and stock of US corporations; bank deposits not connected with a US business, portfolio-interest securities and certain life insurance proceeds are generally excluded. Estate tax treaties can narrow the list.
Also called: us situs property, nonresident estate tax assets
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CHAPTER · THE LONG GAME: GREEN CARD, RETIREMENT OR LEAVING · DEEP DIVEEstate Rules for People Who Are Not CitizensRELATED TERMS
SOURCES
- Frequently asked questions on estate taxes for nonresidents not citizens of the United States. Internal Revenue Service.