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.
death, taxes and filing requirements
Moderator: Mark T Serbinski CA CPA
Re: death, taxes and filing requirements
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