U.S.-Canadian Tax and Estate Planning for Dual Residents
Reconciling U.S. and Canadian Law on Trusts, Deemed Dispositions on Death, Situs Wills, and Wealth Transfers
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide estate planners with a comprehensive guide to estate planning tax challenges and opportunities for clients who have a 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 pensions 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 essential 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
Senior Vice President, Private Client Group, Portfolio Manager
Mr. Coleman started in the industry in 1992 and with Raymond James in 2012, providing comprehensive wealth services for... | Read More
Mr. Coleman started in the industry in 1992 and with Raymond James in 2012, providing comprehensive wealth services for a variety of clients. During this time, he has been managing brokerage offices, spearheading industry trends and leading his team at Coleman Wealth to new territory. Among his many professional accreditations are Canadian Investment Manager, Financial Management Advisor and Fellow of the Canadian Securities Institute, with a Level II Life Insurance License and an Honours B.Comm from Ryerson University. He was one of the first Canadian professionals to attain the Professional Financial Planner, Certified Financial Planner and Certified Hedge Fund Specialist designations. Due to his success as an advisor in alternative investments, Mr. Coleman was the first advisor to sit on committees for the Alternative Investment Management Association (AIMA), and on the Board for the Hedge Fund Association, as a Member and an Instructor.Close
Max Reed, LLB, BCL
As a cross-border tax lawyer, Mr. Reed assists clients with tax problems that span the US/Canada border with a... | Read More
As a cross-border tax lawyer, Mr. Reed assists clients with tax problems that span the US/Canada border with a particular emphasis on US taxation for Canadian corporations, trusts, and individuals. He has written widely on the topic of cross-border taxation and is the co-author (with Dick Pound of Stikeman Elliot) of A Tax Guide for American Citizens in Canada, technical articles on the U.S. tax treatment of the Tax Free Savings Account and Canadian mutual funds, and a series of columns for the National Post. One of this articles was given a technical award by the Canadian Tax Foundation. He is regularly invited to speak on cross-border tax issues.Close