QUESTION:
Does an American citizen need a Canadian will to leave Canadian primary
residence property to U.S. children? What are the tax consequences of such
a transaction?
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david ingram replies:
In general a will should be written where one is domiciled, not where the
property is. With the possible exception of a jurisdiction not wanting to
witness a Saskatchewan Holograph will, any will properly written and
executed (witnessed by two people who are not beneficiaries) should be
recognized in any geopolitical jurisdiction in North America.
However, I am not a lawyer. David Stoller, a lawyer in West Vancouver at
(604) 922-4702 has handled several cross-border wills and has a good
understanding of the problems. You should consult with someone like David to
prepare your will in the jurisdiction in which you live.
Unless your total estate exceeds $2,000,000 US dollars in 2006, 2007 and
2008 or $3,500,000 in 2009, there would not likely be any tax consequences
to the estate or the inheritors. If your estate is over those amounts,
there can be serious tax consequences and in particular really serious tax
consequences if you try and leave property to grandchildren because of the
US GST (Generation Skipping Tax).
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US / Canada / Mexico tax, Immigration and working Visa Specialists
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Disclaimer: This question has been answered without detailed information or
consultation and is to be regarded only as general comment. Nothing in
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David Ingram specializes in giving expert income tax and immigration help to
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