U.S. Estate Tax

Many Canadian's are unaware that, if they own U.S. assets, upon death their estate may have to pay U.S. estate taxes. Examples of U.S. assets include U.S. vacation properties and U.S. equities including U.S. equities held in an RRSP or RRIF (U.S. mutual funds offered by Canadian based mutual fund companies are not considered U.S. property). If you currently own or will purchase U.S. assets in the future, you should seek advice from a tax professional that is familiar with U.S. estate legislation, to determine if you will be subject to U.S. estate tax and whether any steps can be taken to reduce its impact on your estate.