Executor Beware: Personal Liability for Unpaid Estate Tax and More

Serving as the executor of an estate is not just an administrative duty. It involves significant legal responsibilities, particularly when it comes to ensuring that all tax obligations of the deceased are properly addressed. Executors must locate the estate’s assets, assess debts and liabilities, and make distributions to beneficiaries. Critically, they must do all this … Continue reading Executor Beware: Personal Liability for Unpaid Estate Tax and More →

Death of the American Abroad – Is the Estate a US or Foreign Estate? What to do with Undeclared Foreign Assets?

With more and more Americans living and working abroad, the reality is that US persons will also pass away while residing in a foreign country. Did you know that a US citizen residing abroad at death may have a “foreign estate” for US income tax purposes? What does that mean for the estate? What does … Continue reading Death of the American Abroad – Is the Estate a US or Foreign Estate? What to do with Undeclared Foreign Assets? →