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3 - Asian Wealth in the United States

Some Legal Answers and Policy Questions

from Part I - The Rise of Asian Wealth

Published online by Cambridge University Press:  08 December 2022

Richard Nolan
Affiliation:
University of York
Hang Wu Tang
Affiliation:
Singapore Management University
Man Yip
Affiliation:
Singapore Management University
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Summary

This paper examines the legal framework governing, and the policy questions arising from, the management of wealth within the United States when the settlors or beneficial owners of the assets are citizens and domiciliaries of countries in Asia. Among the topics discussed will be the rules governing the US financial accounts, investments and land owned by non-citizens who are domiciled abroad; the use of the US-based trusts for such overseas settlors and beneficiaries; and the federal income and transfer taxation rules applicable to wealth planning for such overseas clients, with special reference to the People’s Republic of China and its tax treaty with the United States.

Type
Chapter
Information
Trusts and Private Wealth Management
Developments and Directions
, pp. 27 - 45
Publisher: Cambridge University Press
Print publication year: 2022

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