Wills and Estate Planningin Canada and USA
Wills and estate plans are the most important area of planning you can do for yourself and your family.
Relax and enjoy your time with your loved ones.
Let us worry about the details.
It’s not the easiest thing to think about, but planning for your death can make things more manageable for those that you leave behind.It’s important that you have a say in some important matters and you won’t have a say in those matters unless you make your wishes known.
Plan for Tomorrow, Today
By planning for tomorrow, you can retain more of your assets, protect your estate and leave a lasting legacy for your family.
If you die without a Will or Estate plan, the government will decide who your beneficiaries are and how your assets will be divided. Who will take care of your children? What will happen to your business, your property, or those valuable heirlooms passed down for generations? How can you reduce the taxes on your estate? We will help you address all of these areas and more in your estate plan.
An estate plan will determine how you want your assets to be owned, managed and preserved during your lifetime and how you want them dispersed after your death.
Different Countries, Different Rules
Canada and the USA have a multitude of laws and tax compliances that change regularly. If you have moved countries, you need a will/estate plan that is updated regularly and that that takes this into account.
Some of the questions our team will ask when adjusting your will/estate plan are:
- Is your will valid in both countries?
- What would happen to your spouse and dependents if you died suddenly in the country you moved to? Would your spouse be able to get access to any funds to meet the family obligations?
- What taxes would you pay in the US and/or Canada in the event of your death?
- What would happen to your assets in Canada and your assets in the USA in the event of your death?
- Would your heirs in Canada receive any of your assets if you died in the US?
- Who would care for your children if you and your spouse died simultaneously?
- Who would file your taxes, pay your bills or care for your children in the event of your incapacity?
- In the event you end up in a coma, would you want the “plug pulled?”
- Where would you want your body buried or cremated? In Canada or the US?
- If you inherit assets from Canada, are they taxed? Where?