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Instructor
Expatriates have to navigate three tests to determine whether they will be covered. In this session, we will discuss the Net Worth Test in depth. How do you know what you own vs. what belongs to your spouse? Learn the basics and the not-so basics in this Net Worth Test crash course. We’ll cover included assets and liabilities, how to value them and what you can do if your net worth is “too high.”
• Learn basic concepts about allocating assets between spouses
• Identify assets and liabilities included in the net worth test
• Understand valuation methods that can apply to your assets
• Learn strategies for reducing net worth to avoid being a covered expatriate
• Expatriation
• Three tests for a covered expatriate status
• Net worth test
• Marital property
• Valuation concepts for expatriates
• Gift tax and filing requirements
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CPAs and attorneys