Yes this is scary and we should really work with the admins of the subreddits, blog authors etc to convince them to display prominent warnings about this... What's the point spending your life saving and investing only to see a foreign government take a large chunk of your estate away from your heirs when this is so easily avoidable.I have been arguing with people on Reddit for the past 5 years that they should be really careful about listening to all the FIRE US based influencers advocating for things like VTI, or VOO only. I know this is not the problem encountered by the previous poster, but you won't believe the number of people who share portfolios with US situs assets (AAPL stock etc..) while residing in a country with no US estate tax treaty at the same time.
As Ted said above, brokers should also send a warning when a non US person located in a non-treaty country exceeds $60k US situs assets in her account. But of course, brokers bury their heads in the sand and hide behind "we are not providing tax advice"...
Statistics: Posted by daviddem — Wed Jul 03, 2024 1:07 am — Replies 36 — Views 8094