Are my late mother's U.S. bank deposits automatically in the U.S. taxable estate just because the bank is in America?
My mother was a nonresident and not a U.S. citizen, but she kept money in U.S. financial accounts for convenience. We are now sorting out whether those accounts belong in the U.S.-situs gross estate or whether some bank deposits can actually stay outside the U.S. estate-tax base. Different advisers are grouping all cash together, which feels too simplistic.
I need a better distinction between ordinary deposits and accounts connected to a U.S. trade or business. If the estate-tax result depends on how the account was used, then the executor needs to organize the file around that instead of making a blanket assumption.
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