Estate planning can be especially complex for families who are subject to both the U.S. tax system (including U.S. income tax and U.S. transfer tax) and the Canadian income tax system. To maximize the amount of wealth transferred to your heirs when you pass away, you may want to consider using strategies to potentially help reduce your and your heirs’ exposure to the U.S. transfer tax system while also taking the Canadian tax rules into account.
In this article, we explore examples of common strategies that may be used.
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