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Category: Estate Planning

U.S. Securities and Other “U.S. Situs Property” – U.S. Estate Tax Issues for Canadian Residents Who are Not U.S. Citizens or Residents

Margaret O'Sullivan January 7, 2013

Many Canadians own shares of U.S. publicly traded corporations and other U.S. securities which they may not know can expose them to significant U.S. estate tax on their death and require their executors to file a U.S. estate tax return and pay any U.S. estate tax due. Pursuant to the

The New Ontario Estate Administration Tax Regime – What You Need to Know

O'Sullivan Estate Lawyers December 5, 2012

Recent revisions to the Estate Administration Tax Act (Ontario) under which the Province charges tax of approximately 1.5% of the value of an estate when a will is probated by the court (colloquially “probate fees”) should be of concern to everyone because of the new reporting, enforcement and penalty provisions

Reflections on the “Trusted Advisor”

Margaret O'Sullivan November 12, 2012

We increasingly see use of the term “trusted advisor”, particularly in the arena of financial and estate planning services. But what is a “trusted advisor” as opposed to someone simply providing advice? At its root I would submit is the requirement that a trusted advisor acts in the best interests

Who May Be a U.S. Citizen and Why It Matters For Estate Planning and Tax Compliance

O'Sullivan Estate Lawyers November 1, 2012

Could you or someone you know be a U.S. citizen without knowing it, and maybe even without having lived in the United States? In this post, we discuss how someone can be a U.S. citizen by virtue of Just sanguinis – blood relationship – and some resulting tax implications. By