The Internal Revenue Service recently announced 2024 annual inflation adjustments for more than 60 tax […]
2024 Annual Inflation Adjustments from the IRS – Cross-Border Implications Continue Reading
Transfer Certificates are releases of the Federal estate tax lien on a decedent’s property. They are issued by the Internal Revenue Service (IRS). The estate administrator (personal representative, executor, successor t…
What is a Transfer Certificate from the IRS Continue Reading
The United States Congress enacted tax legislation, ushering in several changes to the wealth transfer tax system, which took effect on January 1, 2018. Under the new law, the federal estate, gift and generation-skippin…
False Hope: U.S. Estate Tax Exemption Increased Continue Reading
1. Understand how the U.S. Estate Tax affects your estate.
U.S. Estate Planning Checklist for Snowbirds Continue Reading
In order to transfer or sell U.S. real property owned by a deceased person, whether solely or jointly with another person, the estate or surviving joint owner, including a surviving spouse, must obtain a Tax Certificate …
What is a Transfer Certificate and why does my estate need one? Continue Reading
If the surviving spouse is a US citizen, then in general one-half the value of the jointly owned property will be included in the estate of the first spouse to die.
What if my spouse and I own U.S. property as joint tenants? Continue Reading
U.S. Persons (U.S. citizens and those whose domicile is the U.S.) are taxed on the value of their worldwide assets at death.
What property is subject to U.S. estate tax? Continue Reading
So, you’re the Personal Representative of an estate of a deceased Canadian with a vacation home in Florida (or a cottage in Michigan) with a fair market value on the date of death of $400,000 and an account at Bank of Am…
(Estate) Tax Treaty Relief for Canadians with U.S. Property Continue Reading
In a previous post I wrote about the estate & gift tax exemptions increasing in 2018 to over $11,000,000 ($11,700,000 in 2021). However, that threshold for filing an estate tax return and paying estate tax relates to Uni…
Canadians & the U.S. Estate Tax Continue Reading
No matter your political affiliation, a new Presidential Administration comes with questions to which the answers may affect your estate.
A Biden Administration & the Estate Tax Continue Reading
