Canada: Inheritance Tax

Understanding the various types of trusts available in Canada is essential for effective estate planning and asset management. From family trusts and alter ego trusts to qualified disability trusts and bare trusts, each structure offers distinct advantages for tax planning, probate avoidance, and protecting beneficiaries with special needs. This comprehensive overview examines the key requirements, uses, and tax implications of common trust structures to help you determine which option best suits your estat

Canadians with US property, rental income, or extended winter stays face specific IRS reporting requirements that go far beyond simple tax residency rules. Understanding which forms to file, when to file them, and how FIRPTA withholding, the Substantial Presence Test, and cross-border tax credits interact can mean the difference between routine compliance and costly penalties.

The Federal alternative minimum tax (“AMT”) regime is intended to ensure that individuals, including certain trusts, pay a certain minimum level of tax where income tax calculated under the regular rules is reduced...

Imagine learning, after your spouse's passing, that the Canada Revenue Agency is coming after you, for your spouse's tax debt. "Until death do us part" ...

Every year, as June 15 rolls around, hundreds of thousands of Americans living abroad receive the same...

Recently, an X [formerly Twitter] user shared a post about his client, who was a UK citizen living in Spain.

Obtaining probate for a will is the legal process through which the executor named in a will asks the court to confirm the validity of the will and the authority of the named executor.

The Lawyer's Daily, "B.C. sees new year changes to estate planning, real estate laws"

Probate is the process by which an individual's Will is certified by a provincial court. Where an individual holds assets in his or her own name, a probated Will is ordinarily required in order...