Investing in the US - Estate Implications

[LondonHomes]

Hello,



I'm looking at making an investment purchase in Florida real estate. The property is looking like a very good deal, but this will be my first US investment.



I know that I read something in the past on estate implications of owning US property where Uncle Sam will want a part of your world wide wealth if you die owning US property. However, my google searching has not been successful in finding the original article I read or anything else on the topic.



Can somebody help me out or point me in the right direction?



Thanks

 

[housingrental]

Before purchase talk with both a good accountant (try George Dube) and lawyer for advice relevant to your particular situation

 

[Rickson9]

This book may help you determine what is best for your situation. It used to be free. Now they're charging $20.



http://www.altrolaw.com/media-resources/book-order-form2/

 

[invst4profit]

I am not certain of the exact numbers, you will need to do additional research, but when my father-in-laws estate sold his home in Florida the cost for real estate, legal and tax ate up about 30% of the sale price of the property.

 

[Thomas Beyer]

yes there may be implications on your estate that by far offset any potential gains in the US.



type this into google, and you will get a ton of useful hits:



tax consequences for canadians investing in US real estate



Get an expert to help you here, such as a qualified accountant.

 

[dplummer]

A cross boarder trust as Rickson9 suggest from Altro Law is worth a read.



Doug

 

[LondonHomes]

Thanks for all the help.



I've been able to take advantage of some of the resources that you pointed out to me.



Looks like we 1 be putting the property in 1 name now and not 2.