Most Americans do not need to pay the gift and estate tax because of the current high exemption amount. However, like the income tax, which we talked about in "How To Reduce U.S. Taxes On Your Foreign Income?" and in "Do You Need To Report Your Foreign Assets?" before, there are also some special rules governing cross-border issues and immigrants regarding the gift and estate tax.
The word “probate” may sound unfamiliar to most of you. It is a very important concept in estate planning. In my opinion, everyone should at least understand it and most of people should avoid it. I will tell you why and how in this post.