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The Executor’s Role in the Probate Process

What is the executor’s role in the probate process?  To ensure proper estate planning and administration, one needs to understand the basics of the probate process. The probate process involves distributing a deceased person's estate. In plain English, probate is the legal term used to describe the re-titling of the...

What is a PFIC and Why are the Taxes So High?

What is a PFIC and why are the taxes associated with PFICs so high?  A Passive Foreign Investment Company or PFIC is classified by the IRS as a foreign corporation or entity who meets either an asset test or income test established by the agency.  The asset test is based...