EuroBob
11/14/2016 07:53 EST
It has just come to my attention that the U.S. will severly tax my estate before my non-resident, foreign wife receives any of the inheritance.
Is there a way to legally reduce the amount of estate tax which is owed?
Is there a company in Norway which works with U.S. estate taxes?
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Jonty
12/7/2016 12:10 EST
Why select Norway? You need to set up offshore trusts, maybe shell companies.
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EuroBob
12/9/2016 01:54 EST
I am a U.S. citizen residing in Norway.
I live in Norway with my Filipina wife.
I am seeking information regarding what type of taxes may be incurred on my estate after my death and as my assets are inherited by my wife.
I have assets both in the U.S. and in Norway.
I believe that my U.S. assets will be under 2 million at the time of my death, so I hope this means that those assets will not be taxed by the U.S.
Will Norway tax estate assets in Norway?
Will Norway tax what my wife inherits?
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Jonty
12/9/2016 07:31 EST
I could work on this for you but it would take hours of work. My advice? Sell everything before you die and get rid of the problem. You should have declared foreign assets to Skatteetaten. You and your Filipino wife are RESIDENT in Norway. You pay Norwegian tax. Are you both of the Folkregister?
Storing wealth as gold IN THE SHORT TERM has advantages but transporting the wealth over borders is a problem. There are also other issues.
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EuroBob
12/9/2016 07:48 EST
Yes, we are residents of Norway.
Yes, of course we are registered with the "Folkeregister" and pay our Norwegian taxes.
I have to speak with the Norwegian tax authorities regarding declaring my foreign assets. Since I am a U.S. citizen and report/pay the U.S. for income made from the foreign assets, it never occured to me that I had to speak with Norway about the U.S. assets.
If I have the chance to pass everything shortly before I die, that would be fantastic.
Sometimes the end of life is as quick as a heart attack or being hit by a car.
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