death, taxes and filing requirements

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

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rafa02
Posts: 95
Joined: Sat May 26, 2012 3:18 pm

death, taxes and filing requirements

Post by rafa02 »

Anyone have experience with IRS filing requirements for a Canadian estate? If I understand correctly, the death of a taxpayer automatically creates an estate, which is a trust, of some sort. I do not know, but I expect this would require the filing of a 3520 and perhaps a 3520A.

I currently have designated my adult children as executors, but I found one post by nelsona advising against such an arrangement; I am thinking if my estate would require a 3520(3520A?), how much more costly to have these forms filed for my executors. When I look at possibly using a professional as executor, this could amount to 5% of the value of the estate, which could instead pay for quite a bit of tax preparation.
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: death, taxes and filing requirements

Post by nelsona »

It is best to use non-US executors.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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