In the world of estate administration, finding common ground with more universally understood experiences can offer valuable insights into the complexities and demands we might encounter. One analogy that brings this perspective to life is comparing the process of administering an estate to the detailed and prolonged effort required in cultivating a garden. Both endeavors, while distinct in their essence,...
When someone dies owning private company shares, there is a risk of double or even triple taxation. A deceased individual’s estate owning private corporation’s shares may be taxed because of the deemed disposition at death of those shares (capital gains tax).There may be tax payable by the corporation when it sells assets to fund distributions to the deceased person’s estate (capital...
Canadians might be surprised to learn they may be exposed to US estate taxes. This post describes the risks to Canadian investors and how they might protect themselves. US Estate Taxes When Canadians die owning US situated assets worth more than $60,000 USD, they are required to file a US estate return. Then, if your total worldwide estate is more than $11.58 million...
