Canadian parents are no strangers to losing their kids to the US – some may leave Canada to study in the US never to return, while others are recruited by US companies and sponsored by them for immigration purposes.
Once becoming a US person, the child becomes subject to the dreaded US gift and estate tax regime. Click here for a review of these rules. While this may not have an immediate impact on a child whose assets are below the exemption amount of $5.34 million USD, the child may be impacted downstream once he or she has amassed some personal wealth and/or received an inheritance from mom/dad’s Canadian estate. Read the rest of this entry »
Recent Blog Posts
- Upcoming Radio Show: September 8, 2015
- The Upward Trend of the U.S. Housing Market: Follow-Up to the 2015 Florida Real Estate Market Report
- Advisor.ca – How an American spouse can minimize U.S. tax
- May 2015 – Dollars and Sense Radio Show on CJAD
- LEXPERT Magazine – Confronting the Mental Health Stigma in the Legal Profession