tag:blogger.com,1999:blog-436024129575354145.post1378497399964048917..comments2024-03-28T12:41:21.857-07:00Comments on Estate Law Canada: How much are Canadian inheritance taxes?Lynne Butler, BA LLBhttp://www.blogger.com/profile/09790353197833765108noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-436024129575354145.post-13997515822511096392016-12-03T18:20:53.337-08:002016-12-03T18:20:53.337-08:00Hello can a family member from the US give money t...Hello can a family member from the US give money to a family member who lives in Canada money as a gift what's the amount of money and does ether party have to pay taxAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-29756171519396344562015-09-17T18:24:03.266-07:002015-09-17T18:24:03.266-07:00A person can either decline her inheritance or she...A person can either decline her inheritance or she can give it to someone else, but she can't do both.<br /><br />If a person declines her inheritance (which is called "waiving" it), she is basically saying no thanks, and walking away. At that point, she no longer has any say over what happens to the inheritance. It will be dealt with as if the beneficiary had died before the Lynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-62168639978842026922015-09-12T19:23:05.040-07:002015-09-12T19:23:05.040-07:00can a person decline her inheritance and give it t...can a person decline her inheritance and give it to another relative?<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-70393267446015126632015-08-21T15:54:54.186-07:002015-08-21T15:54:54.186-07:00When my father dies he wants to leave land with no...When my father dies he wants to leave land with no house to his children as equal ownership, He lives in another places that he owns the building but not the land... My question is what if anything do the children have to pay on the land that will be equally owned? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-10802161642805814292015-06-01T19:21:57.372-07:002015-06-01T19:21:57.372-07:00what if an heir lives in the us.what if an heir lives in the us.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-5960944160726848552015-05-10T18:15:08.562-07:002015-05-10T18:15:08.562-07:00This is something you'd be best off asking an ...This is something you'd be best off asking an accountant. Accountants are the best tax-number-crunchers.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-43737489250473695872015-05-09T04:33:25.858-07:002015-05-09T04:33:25.858-07:00I am a canadian but have lived and paid taxes in t...I am a canadian but have lived and paid taxes in the US for 20+ years (also a US cutizen). What taxes do i pay if i inherit $300000 from my parents estate? <br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-58275272395996313792014-08-30T17:56:51.684-07:002014-08-30T17:56:51.684-07:00father wants to have a living lease with the kids ...father wants to have a living lease with the kids and give the house to them before he passes. Not sure how this all works and wha is best for the taxesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-86154557966527287552014-08-30T17:54:37.756-07:002014-08-30T17:54:37.756-07:00My father wants to do a lving lease with the kids ...My father wants to do a lving lease with the kids so that the house is not in the estate and left to us. How does that work and how is the best way for tax planning? Father is still alive at this time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-41576801179526990742014-02-18T16:52:02.186-08:002014-02-18T16:52:02.186-08:00Bummer :(
LynneBummer :(<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-63587560834795427312014-02-18T11:09:54.519-08:002014-02-18T11:09:54.519-08:00Hi, thanks for this info. Living in Ontario, I sur...Hi, thanks for this info. Living in Ontario, I sure wish I'd read it this time last year. I just heard back from CRA and they're not going to reimburse me the $10k in taxes I paid on inheritance money I didn't know wasn't taxable!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-65953551976906460762014-02-04T10:12:20.955-08:002014-02-04T10:12:20.955-08:00Hello Lynne,
I have the same question as the Ano...Hello Lynne, <br /><br />I have the same question as the Anonymous post from June 21 2013. <br /><br />Background: I have Canadian and British Citizenship and my father living in the UK passed away. He has left us a few properties. Everyone else lives in the UK but me. What are the best options for me? Rent out the properties with the rest or should we sell all the properties. What would be best Chanell Bnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-77803356899443074442013-06-21T11:16:29.675-07:002013-06-21T11:16:29.675-07:00what if i am a canadian citizen who inherts proper...what if i am a canadian citizen who inherts property in another country?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-57274679199924700822013-05-27T15:21:41.308-07:002013-05-27T15:21:41.308-07:00Certainly! An estate plan is a flexible thing that...Certainly! An estate plan is a flexible thing that changes as your life and financial means change. I always tell my clients that their wills should primarily aim at covering the next five years, and that they should periodically review their wills and the rest of the estate plan (power of attorney, health directive, beneficiary designations, joint property ownership, insurance) to make sure thatLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-72494458777633907752013-05-27T10:01:22.567-07:002013-05-27T10:01:22.567-07:00Can an estate plan be reopened at a later date to ...Can an estate plan be reopened at a later date to make changes Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-79733476623614351322013-02-01T10:06:38.262-08:002013-02-01T10:06:38.262-08:00Hi Luis.
An inheritance tax is something you woul...Hi Luis.<br /><br />An inheritance tax is something you would have to pay yourself out of your own pocket on something you inherited.<br /><br />A death tax is something the estate has to pay.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-4019259707417489962013-01-31T20:26:02.320-08:002013-01-31T20:26:02.320-08:00If there is no inheritance tax then what are proba...If there is no inheritance tax then what are probate taxes? My lawyer just last week said that probate taxes are what many refer to as death taxes.Anonymoushttps://www.blogger.com/profile/00524593488947319198noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-63090450606724155042012-12-09T07:51:14.739-08:002012-12-09T07:51:14.739-08:00Do I have to pay taxes on money which I receive af...Do I have to pay taxes on money which I receive after passing from my mother in the Netherlands? I do have to pay in the Netherlands but what happens if I transfer that money to Canada. Or only part of it and some more in the future. I'll leave a big part on my Dutch banking account. Thanks for addressing this. Anonymousnoreply@blogger.com