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Author: BobLangley 10+ Year Anniversary! Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75797  
Subject: Inheritance tax exemption for foreign citizen Date: 8/27/2000 4:28 PM
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My Dad, who is a British citizen with a permanent visa for living in the US, was told by his lawyer that the inheritance tax exemption on his estate will be on the order of only $60,000 rather than the $600,000 or so that it would be were he a US citizen.

This is apparently to prevent flight of capital out of the US as might happen if a wife who was a foreign citizen were to inherit.

All of my Dad's money was earned in the US and his heirs are US citizens so it seems that the possibility of fligh of capital out of the US is unlikely.

Can anyone shed more light on this subject for me?

Thanks,

Bob Langley
Winters, CA
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