Search found 6 matches

by saldanch
Wed Jan 17, 2018 2:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Non Resident executor of a Canadian estate
Replies: 10
Views: 5988

Aside from the US reporting requirements (depending on the size of the estate), how does Canada view the estate? Does the CRA consider the estate to be non resident because the executor who controls the estate and makes the decisions is a non resident? If so, what are the implications of that classi...
by saldanch
Tue Jan 16, 2018 5:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Non Resident executor of a Canadian estate
Replies: 10
Views: 5988

so to be clear, no implications for the estate of having a non resident of Canada as executor of the estate? Or are there implications on the estate only if the non resident executor is also the beneficiary? The estate pays taxes in Canada (Mom is a Canadian citizen and resident and all assets are C...
by saldanch
Tue Jan 16, 2018 5:25 pm
Forum: Canada / United States Tax & Accounting
Topic: Joint tenancy on Principal residence
Replies: 0
Views: 5467

Joint tenancy on Principal residence

since capital gains tax is exempt on prinicipal residences in Canada when they are sold or deemed disposed upon death of the owner, is it necessary for the owner to file joint tenancy (rights of survivorship)? I understand that this may help with probate fees where the joint tenant survivor is also ...
by saldanch
Tue Jan 16, 2018 5:22 pm
Forum: Canada / United States Tax & Accounting
Topic: Non Resident executor of a Canadian estate
Replies: 10
Views: 5988

Non Resident executor of a Canadian estate

My mother wants to name me executor of her estate when she passes, but there is a possibility that I am a non resident of Canada when she passes away. I understand that there could be tax implications of naming a non resident executor of a Canadian estate, in that the estate would be deemed to be a ...
by saldanch
Fri Jul 14, 2017 8:20 pm
Forum: Canada / United States Tax & Accounting
Topic: TFSA and RRSP income
Replies: 3
Views: 2113

Thank you. What if the deceased will puts the money into a Canadian trust upon death instead of paying out directly to the beneficiary (who is not the spouse). Would the beneficiary of the trust who is a US resident need to pay taxes on those investments? When would they be taxed? When money is disb...
by saldanch
Fri Jul 14, 2017 4:20 pm
Forum: Canada / United States Tax & Accounting
Topic: TFSA and RRSP income
Replies: 3
Views: 2113

TFSA and RRSP income

How does the US tax US resident aliens (Canadian citizens) who are named direct beneficiaries of RRSP accounts and TFSA accounts upon the death of the account owner? I assume since the accounts transfer at death to the US resident who must claim all foreign income, there will be tax implications on ...