Inheritance tax (attorney, live in, estate)

[jimdc58]

I live in the USA and am currently working on my will/trust. I am leaving part of my estate to someone in Ottawa. What is the Canadian tax on inheritance like? Is it a large percentage?

[DawnMTL]

There is no inheritance tax in Canada (source: https://turbotax.intuit.ca/tips/cana...nformation-463) but you might want to dig a little deeper since I'm not sure if that is still valid if the inheritance is from a U.S. estate/citizen. Here's some information (from 2016) about that: https://www.advisor.ca/columnists_/m...-from-the-u-s/. A more recent article: https://www.advisor.ca/columnists_/m...-s-estate-tax/

[jimdc58]

Originally Posted by DawnMTL

There is no inheritance tax in Canada (source: https://turbotax.intuit.ca/tips/cana...nformation-463) but you might want to dig a little deeper since I'm not sure if that is still valid if the inheritance is from a U.S. estate/citizen. Here's some information (from 2016) about that: https://www.advisor.ca/columnists_/m...-from-the-u-s/. A more recent article: https://www.advisor.ca/columnists_/m...-s-estate-tax/

Thanks for the links!! I forwarded them to my attorney for review.