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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: AdrianC ⎊  😊 😞
Number: of 12641 
Subject: Re: Safer to diversify?
Date: 06/07/2023 1:49 PM
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In conclusion, and as I personally understand it (and again, this is NOT tax advice, this is NOT legal advice):

1. The estate of a UK domicile individual with under $60000 in US domicile assets (directly held!), has nothing to worry.

2. The estate of a UK domicile individual holding US domicile assets indirectly (e.g. via an Irish ETF), has nothing to worry about.

3. The estate of a UK domicile individual holding US domicile assets directly, worth over $60000, will have to file a US estate tax return, but can claim rights under the treaty reducing tax to zero.

4. The estate of a UK domicile individual holding US domicile assets directly, worth $12,060,000 or more, will have to pay US estate taxes as well as filing a US estate tax return.

Good info.

I will point out that the estate of a UK domicile individual will generally have to pay UK estate taxes at 40% for estates over the threshold (#325k individual, #650k couple). Got to pay for that great NHS somehow.
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