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Whatever your estate planning goals, Cardinal Point Wealth Management can help develop a thorough and thoughtful plan that is personalized to your needs.
We assist clients in developing plans for the disposition of their estates after death and for the perpetuation of family businesses. This involves the laws of wills, trusts, probate, property, marriage, state and federal taxation.
We prepare documents that preserve as much flexibility as possible and provide opportunity for later tax planning by use of such devices as QTIP elections and disclaimers of interests in property. In addition to wills and revocable living trusts, we prepare documents such as irrevocable life insurance trusts, personal residence trusts, and charitable remainder trusts to carry out lifetime estate planning objectives. Optimal tax planning may also involve the rearrangement of ownership of property within a family unit, by gift or otherwise.
Tax implications for Americans living in Canada
What’s the latest on the IRS crackdown on Americans living in Canada who haven’t been filing tax returns annually? Are they exempt from estate tax if they own ETFs that cover the U.S. market but are traded on the Toronto Stock Exchange? Terry Ritchie updates Rob Carrick on the IRS crackdown on Americans who live and work in Canada but haven’t been filing their annual tax returns. There is serious documentation required by U.S. tax authorities regarding financial holdings.
There is no “one size fits all” cross-border financial planning and investment strategy. Therefore, it is important to partner with a qualified team of tax, legal and investment professionals who specialize in Canadian and United States cross-border transitioning and asset management.
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