Expatriates have to navigate three tests to determine whether they will be covered expatriates. 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? What assets and liabilities are included? How do you value them? What can you do if your net worth is “too high”? Learn the basics and the not-so-basics in this Net Worth Test crash course.
* Learn basic concepts about allocating assets between spouses
* Identify what assets and liabilities are included in the net worth test
* Understand valuation methods that can be applied to your assets
* Learn strategies for reducing net worth to avoid being a covered expatriate
* Three tests for covered expatriate status
* Net worth test
* Marital property
* Valuation concepts for expatriates
* Gift tax and filing requirements
Lawyers and CPAs.