Think the federal exemption means no estate tax? In estate-tax states, it can start in the $2M range.
Step-up, gifting, and the state estate-tax trap
Who this book is for
Households 60+ preparing to transfer wealth, $1.5M+ net worth · essential if you hold assets in both the U.S. and Korea
Does this sound familiar?
- — "The federal exemption is huge, so we're fine" — until you live in, or own assets in, an estate-tax state like MA, OR, or NY (NJ repealed its estate tax; an inheritance tax remains)
- — Lifetime gifts made "to avoid tax" that hand your children a capital-gains bomb
- — Assets in Korea — and FBAR or Form 3520 misses that can cost half an account in penalties
What this book does
Maximizing step-up (§1014) + annual gifting + state estate-tax defense + the special case of dual U.S.–Korea assets. Including the #1 cross-border filing accident: Form 3520.
Table of contents
- 01 The three costs (probate · step-up vs gifting · the dual estate-tax structure)
- 02 Design tools (living trust · annual gifts · beneficiary designations)
- 03 The tax-free pipeline to children / advanced fortresses (SLAT · CRT · ILIT)
- 04 U.S.–Korea cross-border (FBAR/8938 · Form 3520 · exit tax) / execution
What's included
- ✓ Ebook PDF
- ✓ Workbook (asset-by-asset transfer map · three cross-border penalty tables · question sheets)
- ✓ Estate-tax exposure xlsx calculator
⚠️ The federal exemption is highly exposed to legislation, and cross-border mistakes are costly — review with an international tax specialist.
This material is general information for educational purposes only — not tax, legal, or investment advice. Examples of tax savings or returns are illustrative and do not guarantee individual results. Review with a licensed professional (CPA, EA, or attorney) before acting.