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Where Taxpayers and Advisers Meet

Inheritance from Thailand

zigworth
Posts:2
Joined:Fri May 11, 2018 11:15 pm
Inheritance from Thailand

Postby zigworth » Sat May 12, 2018 10:50 pm

I am a beneficiary of my brothers estate in Thailand. When the estate is realised, I believe the proceeds will be in US$.
I am elderly and in poor health. I wish to give the proceeds to my two children one domiciled in USA the other in UK. I have no intention of taking any of the money for myself.What is the simplest way for me to distribute the money, without any of us incurring tax liabilities?
I believe the total sum will be in excess of £500k.
I shall be very grateful for any advice from this forum

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Inheritance from Thailand

Postby pawncob » Mon May 14, 2018 4:47 pm

The easiest way would be to amend the will.(assuming this can be done in Thailand)
Otherwise, if it passes through your hands, there may be IHT consequences.
With a pinch of salt take what I say, but don't exceed your RDA

zigworth
Posts:2
Joined:Fri May 11, 2018 11:15 pm

Re: Inheritance from Thailand

Postby zigworth » Mon May 14, 2018 11:30 pm

Thanks, Pawncob, I'll check that out as a possibility.
zigworth

DavidTreitel
Posts:271
Joined:Thu Aug 16, 2012 4:31 pm

Re: Inheritance from Thailand

Postby DavidTreitel » Fri Jun 08, 2018 8:46 pm

The US resident donee will file IRS Form 3520.


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