DiAngel
2024-03-15
I m in the process of selling off my US ESPP shares to avoid family paying 18-40% estate tax in the event I RIP.Not for retirement purposes but estate tax. As most of you are aware that any amount in excess of USD60K, there is an estate tax of maximum 40%.To make life easier for my family members, i m slowly selling off my ESPP.I dont think it is worthwhile engaging lawyer to bring my USD back to the estate.Why not i do it myself while i m still alive and use it to invest in SG stocks where i park them in CDP as they are transferrable - as long as you list the beneficiary in the will.


I m on track with my 2024 KPI SG dividend as this week I hoot $UOB(U11.SI)$ and $ocbc bank(O39.SI)$.[Happy] [Smile] [Chuckle] 


I was so close [Anger] [Facepalm] [Angry] with $Suntec Reit(T82U.SI)$ to average my cost. It’s ok.There is always a next time or “Tomorrow” from Annie musical play.


“The sun’ll come out
Tomorrow
Bet your bottom dollar
That tomorrow
There’ll be sun”


[LOL] [Tongue] [Grin] [love you][Heart] 


You can also read more about federal estate tax in this URL:

https://www.thebalancemoney.com/what-is-the-federal-estate-tax-3505647

It is indicated in this screenshot. Limted to USD 60,000 for estate tax exemption. 

Modified in.2024-03-17
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Comments

  • Omega88
    2024-03-17
    Omega88
    Hi @DiAngel , just to clarify that a min 40% estate tax is applicable as long as u are holding more than US$60k worth of stocks?
    • DiAngel: 
      https://www.thebalancemoney.com/what-is-the-federal-estate-tax-3505647
    • DiAngelReplyOmega88: 
      I have updated my post for the link to know more about the federal estate tax and amount less than USD60K is tax exemption.
    • Omega88ReplyDiAngel: 
      Thanks @DiAngel [Like]
    • DiAngel: 
      It is maximum 40%. I have written maximum and not minimum. Minimum is 18%. Just like SG income tax where this is levelling.
    • DiAngel: 
      Yes. You can google it. I recalled sometime ago, another Tiger talked about it.
  • kino318
    2024-03-17
    kino318
    talk to tiger, there is a better way to handle this.
    • DiAngel: 
      Why let the lawyers earn our hard earned money when we knew about the federal estate tax?
    • DiAngel: 
      There is no better way to handle it. Either you sell it to be below USD60k or prepare to engage lawyers (maybe SG one lawyer and US another lawyer) to settle your federal estate tax before you can bring the USD back to SG and distribute according to the will.
    • DiAngel: 
      Mine is with Fidelity.
  • BenjiFuji
    2024-03-16
    BenjiFuji
    Nice! What is ESPP?
  • Sonsonkok
    2024-03-17
    Sonsonkok

    Great article, would you like to share it?

  • Gman69
    2024-03-17
    Gman69
    Great ariticle, would you like to share it?
  • assassinyj
    2024-03-17
    assassinyj
    Good
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