If you own assets in the U.S, you need to familiarize yourself with new U.S. tax rules and get ready to pay a little more.
The estate tax is based on the fair market value of all U.S. assets owned at the time of death. It can reach 40%, depending on the value of U.S. assets and the worldwide estate.
But not all Canadians who own U.S. assets will be subject to U.S. estate tax. A look at the new tax rules will help you determine whether you’re exposed.