If you bought a place in Palm Springs or Maui twenty years ago and never thought about what happens when you sell it — or when you die — is it too late to fix that?
In this episode, Gerry sits down with Kevin Kirkpatrick of Bordera Tax and Immigration Law — a dual Canadian-US lawyer based in Seattle, with his main office in Calgary — to walk through the estate planning issues that catch Canadians off guard on both sides of the border. From US estate tax thresholds to the 8-of-15 green card rule to FIRPTA withholding on US property sales, this is the conversation to have before you assume your Canadian will is enough.
What You’ll Learn in This Episode
Why the $60,000 US asset threshold matters — and what counts as “US stuff” when the CRA is done with you
How the Canada-US Tax Treaty provides Canadian residents a pro-rated US estate tax credit, and why the current high exemption benefits most Canadians
What happens when a US citizen inherits a Canadian private corporation — and why controlled foreign corporation rules create reporting obligations even for family businesses
The 8-of-15 rule for green card holders: when you become a long-term resident subject to US exit tax, and a treaty exception that may reduce your exposure
Why dual-licensed doesn’t mean one lawyer handles everything — and how Kevin and his partner Asim structure their practice across US and Canadian tax law
FIRPTA explained: how 15% gross withholding on US property sales works, why California and Hawaii add their own layer, and what your options are
Whether trusts, non-recourse mortgages, or life insurance can still help if you bought your US property decades ago without any planning
Resources & Links
Kevin Kirkpatrick — Bordera Tax and Immigration Law: bordera.ca
Podden och tillhörande omslagsbild på den här sidan tillhör
Gerry Scott. Innehållet i podden är skapat av Gerry Scott och inte av,
eller tillsammans med, Poddtoppen.
