There is increasing connectivity and movement of individuals and their assets between Canada and the U.S.
Children relocate on either side of the border, often after pursuing higher education in the other country.
U.S. residents move to Canada to work or retire and vice versa.
Residents on either side of the border purchase a recreational property – a Florida or Arizona home for many Canadians – or a cottage property or ski chalet in a Canadian province for many Americans.
Successfully navigating the issues that arise in cross-border estate planning and administration is complicated given the very different tax and legal regimes on either side of the border. Missed turns or taking the wrong route often occurs because of a lack of skilled guidance and direction in planning or administering an estate with cross-border issues.
Join this webinar from O'Sullivan Estate Lawyers LLP recognized as one of Canada's leading trusts and estates legal boutiques which is well known for its expertise in cross-border succession planning and administration.
Stay on top, be able to spot the issues and understand the complicated cross-border challenges that arise when Canadians and Americans have connections to each other's jurisdiction, including assets, citizenship, residency and beneficiaries.
This webinar will explore a number of important issues, as well as include case studies to illustrate solutions to cross-border problems. Some of the topics will include:
- Using separate situs wills and powers of attorney for property and personal care: When are they recommended?
- Administering property on death on other side of the border: How does it work and problems and pitfalls.
- Taxation on death and the impact of two different tax regimens: Canadian capital gains tax and U.S. estate tax and planning options to reduce tax exposure.
- Choosing executors, trustees and attorneys for powers of attorney: What are the tax and legal considerations which create problems in appointing a resident on the other side of the border?
- Tricky and "under the radar" legal and tax issues: When a trust or its settlor, contributor, trustees or beneficiaries are resident in the other jurisdiction.
Secure your place and learn solutions and approaches to deal with foreign issues in estate planning and administration.
Relevant resource material for future reference will be provided to help you navigate these complex issues.
For enquiries, please contact Jana Schilder, jschilder@osullivanlaw.com.
WHEN: Thursday, March 23, 2023, at 11:00 a.m. EST to 12:00 noon
Register Now
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