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Friday, January 31, 2014

Five things to consider before buying a snowbird property in the US

A significant number of my clients own real estate in a warm, sunny, American state. If  you are one of the thousands of Canadians who are thinking of joining them in US vacation home ownership, I recommend that you read this new article from the Globe and Mail. Click here to read the Globe and Mail's five good suggestions for things to think about before you go ahead with buying that cabin or condo.

As an estate planner, I'm most concerned with the third area - ownership issues. If you've done some estate planning here at home, make sure that the ownership arrangement of a US property does not interfere with that. Before you buy the property, talk over possible ownership issues with your lawyer, and make sure your plans for the property after your death are part of that discussion.

The article has a good discussion of estate tax which you might find useful.

3 comments:

  1. I can see that you are putting a lots of efforts into your blog. Keep posting the good work.Some really helpful information in there. Nice to see your site. Thanks!

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    ReplyDelete
  2. Great blogs buddy……… this will definitely assist me. Richard

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