Qualified domestic trust
QUALIFIED DOMESTIC TRUST
If you, a U.S. citizen, marry a non-citizen, the federal government taxes your estate as soon as you pass, leaving your spouse with a lot less to live on. One of the ways to provide for your non-citizen spouse is to set up a qualified domestic trust or QDOT instead of a regular trust.
When the time comes to write your will, you have the right and the ability, as a U.S. citizen, to leave your spouse your entire estate upon your death. If your e... moreQualified domestic trust
QUALIFIED DOMESTIC TRUST
If you, a U.S. citizen, marry a non-citizen, the federal government taxes your estate as soon as you pass, leaving your spouse with a lot less to live on. One of the ways to provide for your non-citizen spouse is to set up a qualified domestic trust or QDOT instead of a regular trust.
When the time comes to write your will, you have the right and the ability, as a U.S. citizen, to leave your spouse your entire estate upon your death. If your estate is worth more than a certain amount, you can leave your assets in a trust, where they won’t be taxed, at least not until your spouse passes. With your assets in a trust, your spouse is entitled to any income the trust generates, typically interest payments. https://www.cpafirmnyc.com/qualified-domestic-trust/
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Long Island, NY
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