Estate Tax Mitigation and Wealth Preservation Strategies for Exiting Australia / US Entrepreneurs

Video Title:
Estate Tax Mitigation and Wealth Preservation Strategies for Exiting Australia / US Entrepreneurs
Tax Mitigation Australia / US Entrepreneurs

Description:
In this webinar, Arete Wealth Strategists Australia Founder/Principal Ashley Murphy, CFP® GFP Fellow delve into advanced strategies for exiting Australian business owners navigating U.S./Australian cross-border wealth management.

Some of the relevant issues that were addressed include:

Estate Tax Mitigation Strategies

Domicile Considerations: Understanding how domicile affects U.S. estate tax liability for Australian residents with U.S. assets, and strategies to manage domicile status.

Navigating the $13.99M US estate tax exemption (IRC §2010) for non-domiciled Australians and Utilizing Foreign Tax Credits: Exploring how tax treaties between the U.S. and Australia can help reduce estate taxes by allowing credits for taxes paid in Australia, even though Australia does not have estate taxes.

Irrevocable life insurance trusts (ILITs), GRATs, and CRTs in cross-border contexts

Pitfalls of Australian testamentary trusts under US tax code

Asset Protection Trusts: Examining the use of asset protection trusts in both Australia and the U.S. to shield assets from creditors and potentially reduce estate tax liabilities.

Impact of U.S. Tax Reform: Addressing potential changes in U.S. estate tax laws and how they might affect Australian business owners with U.S. assets.

Post-Exit Wealth Preservation

State-specific residency planning: (No-income-tax jurisdictions vs. California’s 13.3% rate). Beyond California, discussing other U.S. states with favorable tax environments for wealth preservation, such as Florida or Texas

Philanthropic Strategies Beyond DAFs: Exploring other philanthropic vehicles, such as charitable remainder trusts (CRTs), that can provide tax benefits while supporting charitable causes

Tax-Efficient Investment Strategies: Discussing investment strategies that minimize tax liabilities in both the U.S. and Australia, such as using tax-loss harvesting or Direct indexing

Cross-Border Retirement Planning: Exploring how to optimize retirement savings across borders, including the use of U.S. IRAs and Australian superannuation funds

International Asset Allocation: Considering how to allocate assets globally to maximize returns while minimizing tax exposure in both countries.

We hope you enjoy!

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Relevant Tags:

estate tax mitigation,
wealth preservation strategies,
estate planning,
tax planning,
long-term investing,
tax mitigation strategies,
entrepreneur tax planning,
exit planning for entrepreneurs,
expat wealth management,
leaving the US tax,
high net worth planning,
offshore tax planning,
wealth management,
global tax strategy,
tax residency planning,
international estate planning,
long-term investing,

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Relevant Hashtags:

#EstateTax
#TaxMitigation
#WealthPreservation
#EstatePlanning
#TaxPlanning
#WealthManagement
#InternationalTaxPlanning
#ExpatTax
#GlobalTaxStrategy
#EntrepreneurFinance
#EntrepreneurWealth
#HighNetWorth
#USAustraliaTax

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Areté Wealth Strategists Australia
‪@aretewealthstrategistsAU‬