Pros vs. Cons of US Citizenship

[Nitas_man 3,100]

On 5/6/2021 at 1:48 AM, Lemonslice said:

If you plan to retire abroad, or have more than very basics assets/income, it is totally worth consulting with someone well versed in tax agreement, estate taxation, etc.  The pros for one might be the nightmare of the other... 

 

Good luck. 

 

16 hours ago, RLA said:

Could you elaborate on that, please?  How are they handled differently?

 https://wm.calamos.com/newsinsights/wealth-strategy-insights/estate-planning-when-a-spouse-is-a-non-us-citizen/
 

Good article on estate and gift tax rules which is a start.  It’s a convoluted mess.

 

https://www.orgcorp.com/wp-content/uploads/17-11-BYA-Beneficiary-Designations.pdf

 

See #18 regarding life insurance

 

Estate tax rules that we take for granted as USC’s don’t apply.

[Wuozopo 4,285]

1 hour ago, Nitas_man said:

Estate tax rules that we take for granted as USC’s don’t apply.

 But wouldn’t you agree that this wealth planning and strategy is for folks with estates exceeding $15 million?  We’re not going to make it to that level and the OP’s hubby likely is just a working bloke not heading that way either.  Reading tax laws from the IRS, it seems the concern is more when the spouse is a non-resident alien, (not a greencard holder living in the US)...and very wealthy. 

[Nitas_man 3,100]

5 hours ago, Wuozopo said:

 But wouldn’t you agree that this wealth planning and strategy is for folks with estates exceeding $15 million?  We’re not going to make it to that level and the OP’s hubby likely is just a working bloke not heading that way either.  Reading tax laws from the IRS, it seems the concern is more when the spouse is a non-resident alien, (not a greencard holder living in the US)...and very wealthy. 

Not if one wishes to retire overseas.  The rules (inheritance, social security) put the non-US spouse at significant disadvantage.

 

Edited May 7, 2021 by Nitas_man

[Wuozopo 4,285]

14 minutes ago, Nitas_man said:

Not if one wishes to retire overseas.  The rules (inheritance, social security) put the non-US spouse at significant disadvantage.

 

I see...if they plan to give up their greencard and become non-resident in the US...live abroad. And have millions of dollars.

[Nitas_man 3,100]

1 hour ago, Wuozopo said:

I see...if they plan to give up their greencard and become non-resident in the US...live abroad. And have millions of dollars.

Correct that’s what I said.

 

A.  $11,000,000 exemption is more money than $60,000 exemption, and $60,000 isn’t much

B.  Collecting SS from anywhere in the world without question is better than having it cut off for being 6 months outside the country and not having it restarted until you are back for 30 days

 

 

Edited May 7, 2021 by Nitas_man

[poh 124]

On 5/5/2021 at 12:30 PM, Nat & Mark said:

My husband has been debating whether to apply for Citizenship or not. I told him whatever he decides to do I will support him.

 

What would be the advantages of him applying for Citizenship and what would be the disadvantages?

 

Thank you in advance for advice and information!

Once you are US citizen you travel as an American and get to report and pay US taxes where ever you are! On a good note you qualify for social security benefits after 10 years of working and paying SS taxes. 

 

Edited May 9, 2021 by poh

[jaya_razz 20]

Pros:

 

NOT having to deal with immigration paperwork every 10 yrs or so 

NOT having to pay yet another fee for the renewal of GC in essence its more cost efficient 

They also said SS benefits changes when you become a citizen (that’s what I remembered during my oath taking)

Cons:

You’d lose your citizenship if dual is not permitted 

 

 

[ET9709 43]

Depending on your home country a US passport can provide better access to travel abroad. 

[LEISEROM 32]

My wifes friend from Manaus came to the US with her 4 kids but subsequently split from her husband(not the father)

 

She became a citizen. The kids did not. Two were convicted of felonies. One after doing prison time was deported. The other one fled to Mexico after he did prison time(INS was not able to obtain a passport for him)

 

She moved back to Manaus and lived there many years. Recently she sold her house in Manaus and returned to the US and is living with her other son in Houston.

 

The above is the reason to become a citizen. After sale of house she just bought a ticket and flew back here. Never know what life changes may occur in future

Edited May 10, 2021 by LEISEROM

[Angela & Paul 12]

Lots of great information in here. I love the resources in this forum and WE are the best ones.
From experience, my wife’s and mine - she’s the Brazilian, I’m the gringo - aside from right to vote, better estate laws, easier travel, the main reasons we chose citizenship are:

- no more scrutiny at the US port of entrance. Your mileage may vary, but after my wife got her green card, she had to go to the office pretty much every time for them to “check” things. Yes, she had some “history” with the CBP and USCIS! 

- no more fear of being denied at green card renewal ever 10 years

- last but not least, Trump got elected! That was the main trigger for us because we knew that sooner or later things would get really difficult getting citizenship or even green card renewal.

It also means that someone worse WILL get elected in the near future and will go further in  banning immigration, green cards, citizenship.

Also if you don’t feel comfortable living in a country led by a fascist, you can leave for 4 years and not lose citizenship unlike your green card!

[Chrisfer77 46]

I passed my citizenship interview a few weeks ago and I am actually waiting for the oath ceremony in a few weeks. I think the pros to me are that I can live in a different country and not worry about the green card. If you live out of the USA for more than 6 months you can get in big trouble with immigration. Other pro is that getting a USA passport is a big advantage when traveling. Being a Citizen open more door for jobs that require people to be citizens. To me being a Citizen is obviously better than holding a GC. To me coming from a country like Argentina and becoming an American citizen is like a dream ! Good luck to everyone ! 

[MarkPajr 23]

What are people's thoughts on the primary con of losing original country citizenship where dual citizenship is not recognized? Would holding a greencard in that case be more beneficial by allowing you to keep your original citizenship as well? 

[Nitas_man 3,100]

37 minutes ago, MarkPajr said:

What are people's thoughts on the primary con of losing original country citizenship where dual citizenship is not recognized? Would holding a greencard in that case be more beneficial by allowing you to keep your original citizenship as well? 

That’s why we’re 14 years married and never applied.  The only reason.

 

[VALU 55]

2 hours ago, Nitas_man said:

That’s why we’re 14 years married and never applied.  The only reason.

 

If you love your native country more than the USA, you would have difficulty making a decision to naturalized. Most people who marry USA citizens and move to America don't care about keeping their native country's citizenship.

 

Some countries who don't allow dual citizenship don't even check or keep track, so not sure how big a deal it is...

[Godobo 4]

On 4/28/2021 at 1:59 PM, McLez said:

They provided a link for you to pay... I used card too not check.  

Okay thanks