You don't have to be American, or ever have lived in the US, to owe US estate tax. US shares, US funds, and US real estate are "US-situs" assets — taxed by the US on a non-resident's death above a strikingly low threshold, at rates near 40%. Most people have never heard of it. See your exposure, and how much of it a non-US-domiciled fund can remove.
The US taxes the estates of non-US persons on their "US-situs" assets — and the threshold above which it applies to a non-domiciliary is strikingly low (long set around $60,000), far below the large exemption US citizens enjoy. US shares and US-domiciled funds count as US-situs even when held in an account outside the US; so does US real estate. The rate climbs toward 40%. It is one of the most common, most expensive surprises in cross-border wealth — and one of the most avoidable.
US company shares (even held abroad), US-domiciled funds/ETFs, US real estate, and US-located tangible property. US bank deposits often do not — but confirm, the rules are technical.
Hold US-market exposure through a non-US-domiciled fund rather than US shares or US funds directly. Same investment exposure; generally not US-situs — so the estate exposure falls away. A non-citizen surviving spouse raises a separate issue (QDOT).
The US-situs estate trap, seen from both sides — the family moving wealth into the US and the non-resident who simply holds US assets — plus the fixes, the QDOT spousal issue, and a companion workbook that maps your whole estate by situs. Get the chapter and the launch notice.
Estate Planning — Pick the level that fits
Same practitioner voice at every tier — from the free calcs to the flagship reference.
Related free tools
Every one of these is a working calculator or reference — no signup, no gate.
Federal + state estate-tax exposure with lifetime-gift overlay.
Which trust vehicle fits which family and asset-protection goal.
Trust-as-IRA-beneficiary decision under the 10-year rule.
Fiduciary distributable net income and trust accounting income.
Section 663(b) worksheet for post-year-end distributions.
Corporate vs individual trustee cost across asset sizes.
Required minimum distribution schedule for the beneficiary.
Special needs trust funding sized to lifetime-care projections.
Charitable remainder and lead trust cash-flow and tax impact.
Charitable-gift value with basis, holding-period, and DAF overlay.
Closely held business valuation for estate and gift returns.
US-situs estate-tax exposure for non-resident aliens.