Tips for snowbirds flying south

Ensure you have taken steps to avoid subjecting your estate to U.S. estate taxes. U.S. estate taxes are payable by Canadian citizens who die owning assets situated in the U.S. The most common assets for snowbirds to have in the U.S. are their residence, furniture, cars (left in the U.S.), paintings,...

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Bibliographic Details
Published inThe Canadian Jewish news (Toronto) Vol. 33; no. 45
Main Authors Weigl, Corina S, Hoffstein, Elena M
Format Newspaper Article
LanguageEnglish
Published Don Mills, Ont Canadian Jewish News 13.11.2003
Subjects
Economic impact
Personal finance
Vacations
United States
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Summary:Ensure you have taken steps to avoid subjecting your estate to U.S. estate taxes. U.S. estate taxes are payable by Canadian citizens who die owning assets situated in the U.S. The most common assets for snowbirds to have in the U.S. are their residence, furniture, cars (left in the U.S.), paintings, stock in U.S. companies, debt of U.S. companies and money on deposit with U.S. banks. There are ways U.S. assets can be held which will avoid or defer U.S. estate taxes.
ISSN:0008-3941