I am an American living in Europe permanently, and thus will retire here.
The bulk of my retirement savings is within a US Vanguard account.
I have never really gotten a straight answer from anyone about the best way to cash out funds for retirement on an annual basis once I retire. I worry that I will lose thousands and thousands through cap gains taxes and currency transfer fees.
I recently spoke with a international tax expert who advised that, because my husband is not a US citizen, I can transfer securities to him in-kind to his non-US account, and then he can cash out the money and we avoid having to pay US capital gains taxes (and our country of residence has lenient cap gains tax laws). I have just tried to do this online with Vanguard via the gifting form, but it is clearly for gifting in-kind to another US citizen with a US account.
Can anyone advise?
The bulk of my retirement savings is within a US Vanguard account.
I have never really gotten a straight answer from anyone about the best way to cash out funds for retirement on an annual basis once I retire. I worry that I will lose thousands and thousands through cap gains taxes and currency transfer fees.
I recently spoke with a international tax expert who advised that, because my husband is not a US citizen, I can transfer securities to him in-kind to his non-US account, and then he can cash out the money and we avoid having to pay US capital gains taxes (and our country of residence has lenient cap gains tax laws). I have just tried to do this online with Vanguard via the gifting form, but it is clearly for gifting in-kind to another US citizen with a US account.
Can anyone advise?
Statistics: Posted by Beccaroo73 — Mon Dec 23, 2024 9:36 am — Replies 0 — Views 52