Ask the Experts Radio Show – September 2012


On the September episode of Ask the Experts on Newstalk1010, Managing Partner David A. Altro and Chief Operating Officer Matt Altro speak about the many issues that Canadians need to be aware of when considering buying property in the U.S. and moving to the U.S. Read the rest of this entry »

Gift Tax Developments

While it is possible to donate property in Canada without any tax consequences, it is quite a different affair for Canadians in the United States. Thus, it is important for Canadians holding assets in the U.S. to be informed about the rules underlying the donation, without which the noble intention of offering a present to someone you love can quickly turn into a poisoned gift.

The basic scheme of the tax on the donation is that a person who disposes of property for free or for less than the fair market value must pay a tax based on the full fair market value of the asset. Gift tax applies in the context of inter vivos disposition since the donation through testamentary disposition will be governed by the estate tax. Read the rest of this entry »

Dollars and Sense Radio Show – September 2012

Montreal, Quebec – September 27, 2012

On the September 27th episode of Dollars and Sense on CJAD 800 AM, host and Certified Financial Planner, Matt Altro and legal expert David A. Altro discuss buying property in the U.S. and how Altro & Associates assists Canadians with this process. Read the rest of this entry »

Vancouver: New Office, Great Leader!

Altro & Associates, LLP is very pleased to share that British-Columbia lawyer Jonah Spiegelman is now settled into the firm’s Vancouver office at a new address, and leading the growth of the firm to Western Canada. A Vancouver native, Jonah is happy to return after transferring from the Montreal office where he built an extraordinary level of knowledge and professionalism which he now brings to the Vancouver team and all his clients. He specializes in cross border tax and estate planning, and has deep expertise with structures for investment properties that limit liability and are created in tax effective ways. Read the rest of this entry »

Altro & Associates Brings in New Talent

Welcome April Schulze!

We are pleased to welcome April to the team. Prior to joining Altro & Associates, April was an associate in mid-sized firms in both Grande Prairie and Calgary, Alberta, where she focused on civil litigation, wills, estates, and residential real estate. In 2004, April received her B.A. (Honours) from the University Alberta. She then received her L.L. B from the University of Alberta in 2007, and was called to the bar in Alberta the following year. As a Canadian who has lived, studied and worked in both Eastern and Western Canada, April brings great perspective and knowledge to our clients across Canada. April has joined our Toronto office team, and will be making the move to the Calgary office within the next year.

 

Welcome Meghan Weinstein!

We are pleased to welcome back Meghan to the Montreal team now that she has completed her graduate studies. Meghan attended the University of Miami School of Law where she earned her J.D. and graduated Magna Cum Laude. She also has a B.Sc. in Psychology, with distinction, from McGill University. Prior to joining the Altro & Associates team as a full-time attorney, Meghan was a summer intern at our firm in 2011. As demonstrated through her academic success Meghan strives for excellence, which makes her an excellent fit for our clients to ensure that their needs are properly addressed.

David A. Altro’s 60-Second STEP Interview



David A. Altro has been a proud member of STEP since 2006 and was very pleased to participate in a 60-second interview with the organization when he was asked to be a featured member in one of their October 2012 STEP Journal newsletters. You can read David’s answers below or see the STEP newsletter online for the feature on David.

Why did you join STEP?
To take advantage of the exchange of high-level tax and estate-planning expertise, and to do the networking.

What does being a member mean to you/your organisation?
Having the TEP designation speaks to our credibility as cross-border tax and estate planning attorneys and the ability to get up-to-date tax information. Read the rest of this entry »

US Citizens in Canada: Window of Opportunity to Solve US Estate Tax Problem is Closing



US citizens who live in Canada are liable for US gift and estate tax on their worldwide assets, even if they have never actually lived in the US. This means that assets transferred during life or on death are taxed by the IRS at rates of up to 35%, subject to certain annual and lifetime exclusions.

On January 1, 2013, the lifetime gift and estate tax exemption amount is set to drop from the current $5 million down to $1 million, meaning that US citizens will be taxed at a rate of up to 55% on the fair market value of their estate over $1 million if they pass away after this calendar year. Read the rest of this entry »