U.S. Estate Tax for Canadians
Understand your exposure and strategies to minimize it
The U.S. has a wealth transfer tax regime that imposes taxes on your right to transfer your assets upon your death. Did you know that even Canadians who die owning U.S. assets – such as stock of a U.S. corporation, a yacht in Florida , or a ski chalet in Colorado – may be subject to U.S. estate tax even though they are not U.S. residents, citizens or green card holders?
This article discusses the U.S. estate tax exposure that may exist for Canadian residents should they die in 2014 owning U.S. property, and highlights common estate planning strategies that you may be able to use to minimize or eliminate your exposure.
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