U.S.-Canadian Tax and Estate Planning for Cross-Border Clients
Reconciling U.S. and Canadian Law on Trusts, Deemed Dispositions on Death, Situs Wills, and Wealth Transfers
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE/CPE webinar will provide estate planners with a comprehensive guide to estate planning tax challenges and opportunities for clients who have tax presence in both the United States and Canada. The panel will discuss the U.S. tax law and treaty provisions that govern tax and fiduciary rules in both Canada and the United States. The webinar will focus on the U.S. tax and other consequences for Canadian clients with U.S. tax presence and U.S. taxpayers with Canadian-based pension and other assets.
- U.S. estate tax regime
- Canadian “deemed disposition” rules
- Tax treaty credit provisions
- U.S. and Canadian tax treatment of trusts
- Filing and Reporting deadlines and timelines to consider
The panel will review these and other key issues:
- When is it appropriate for clients to have separate estate plan documents specific to the U.S. and Canada?
- How does the “deemed disposition” rule work to create a recognition event upon death or transfer of assets deemed to be Canadian-sourced?
- What are the tax treaty provisions to ameliorate dual taxation issues in estates and post-mortem tax events?
- How to avoid inadvertent gift tax triggering events on spousal transfers.
- Options for transferring estate assets outside of an estate in Canada.
International Tax Partner
Gilmour Group CPAs
Mr. Gilmour is a corporate tax advisor. His practice focuses on corporate clients in manufacturing and distribution... | Read More
Mr. Gilmour is a corporate tax advisor. His practice focuses on corporate clients in manufacturing and distribution industries that sell products internationally. He has a vast knowledge of tax planning, international tax issues and scientific research and development tax credits.Close
C. Edward Kennedy, Jr., CPA, JD
Brady Ware & Company
Mr. Kennedy has more than 34 years of experience dealing with a variety of international tax matters, specializing... | Read More
Mr. Kennedy has more than 34 years of experience dealing with a variety of international tax matters, specializing in tax consulting services to a wide variety of clients ranging from closely held companies to multi-national businesses. His expertise includes domestic and foreign income and social security tax planning, tax compliance for individuals and corporations, tax treatment of incentive compensation plans, international assignment program administration, and international assignment policy design. Prior to joining the firm, he served as KPMG LLP's US firm lead for international social security matters.Close
Susan J. Merritt
Senior Fiduciary Officer
As the Senior Fiduciary Officer for the Orange County region, Ms. Merritt is responsible for overseeing all... | Read More
As the Senior Fiduciary Officer for the Orange County region, Ms. Merritt is responsible for overseeing all aspects of the region’s fiduciary practice. This includes oversight of all trust relationships for the region, responsibility for, and mitigation of fiduciary risk, review of all new trust business and oversight of all court related matters including administrative petitions and fiduciary litigation. In addition, she works with select Wealth Management clients and their advisors to coordinate and develop integrated tax and estate plans, and goals based wealth management strategies.Close