Wills and taxes

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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queenwest
Posts: 20
Joined: Tue Mar 02, 2010 11:13 am

Wills and taxes

Post by queenwest »

Hi there,
Our family moved permanently to the US from Canada a few years ago. We will be pursuing dual citizenship when eligible. We have a trust for the kids set up in the US for our US assets but we have yet to do anything on the Canadian side. We have two properties in Canada along with RRSPs (if we don't use) that would go the the children once we pass. What is the most tax efficient way to set up a will? Is a simple will enough or do we need to put a trust in place?

thanks,
queenwest
Posts: 20
Joined: Tue Mar 02, 2010 11:13 am

Re: Wills and taxes

Post by queenwest »

I should add that the kids will likely be dual citizens by the time they inherit the properties.
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