How U.S. Estate Taxes Can Affect Canadians and How to Lessen the Impact

For years 2010 through 2012 Canadians owning assets in the U.S. could be subject to U.S. estate taxes if the value of the assets exceeds $60,000. Colin MacAskill discusses certain strategies that Canadians could employ in limiting their U.S. estate tax liability. Some of these include: buying assets through a Canadian trust or corporation, gifting U.S. assets prior to death, and using irrevocable life insurance trusts (ILITs).

See Colin MacAskill, "Money Talk: U.S. Estate Taxes Could Impact Canadians," bclocalnews.com (Oct. 18, 2011). 

Posted by Andrew Hodes, Associate Editor Wealth Strategies Journal.