US resident - how to claim Canada Pension, US social sec

[carolepudlock]

Hello Nelsona,
We are back to this subject again. My mother is changing her will to her Canadian resident neice to be estate trustee/executor and me (her only daughter) to inherit her assets. (bank accounts and home only) She is taking my name off the bank accounts, in her name only. The canadian lawyer said to have a power of attorney stating I can have access to accounts and house in the event she is unable, and/ or at the event of her death. or she needs to specify on all accts. and house that I am co-owner with the right to survivorship. Mar.5 I became a US citizen, no more green card. Thought I would let you know for others that have the same problem. Does this sound right to you now?

[nelsona]

sounds better
all the best

[carolepudlock]

just wanted to make sure. My mom is real nervous about taking me off her accounts and being just her. Personally this makes me nervous too, Any ideas?

[nelsona]

A shot of sherry at about tea time.

[carolepudlock]

ok, will do, just hope this doesn't create a hassel with no other family here.

[carolepudlock]

I spoke with our american accountant. He is American, on his brothers will as executor in England. Both attorney and accountant advised to leave my name on my mom's accounts and house with right to survivorship. There is no other family. We were going to put my canadian cousin on her will as executor/estate trustee (term used in Canada, meaning the same) but we just found out she is process of divorce with NO money. It's too risky. We are leaving as is. IF THERE IS NO OTHER FAMILY, it has to be this way. I am on will and co-owner of accounts and house, with the right to survivorship.

[nelsona]

Like I've said all along, it is not "wrong" to do what you are doing. It may in fact be the only way.
Just realize that you now have extra reporting and trust issues issues that you would not have if you were not a US person.

make sure your acct does all the required paperwork (ie 3520) AND PUTS HIS NAME ON THE FORMS AS PREPARER. If he balks at this, find another acct.