I am canadian. If I purchase a condo i florida with my husband how should it be registered to avoid estate taxes? Can I leave to my kids in a will? or will they be taxed at a high percentage?
If you own property in the U.S. if you die with no will, the court will find the property and your estate will pay tax on this if you die since it is located in the U.S. Therefore, you need to disclose this as an asset for estate tax purposes. You can get around the estate tax by creating trusts or other estate planning techniques. You'll likely need an estate plan in both the U.S. and Canada if you have property in Canada as well.
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