A person is considered incapacitated when they have lost their ability to make important decisions, including those related to their assets or property.

What happens to your Florida property if you become mentally incapacitated? Your loved ones may encounter significant problems when trying to sell or transfer your property.

Under Florida law, the procedure called “guardianship” may be required in order to determine who can legally undertake the duty and responsibility to make decisions regarding an incapacitated person’s property and assets. Read the rest of this entry »

There is no denying that the United States continues to be a hot spot for many Canadians, and although the housing market crash has begun to recover, prices are still nowhere near where they once were. This coupled with the strength of our Canadian dollar means one thing; it’s a wonderful time to be Canadian. Although, the Canuck in me would say that it is always a great time to be Canadian, now is especially good. That aside, being a Canadian investing in the US real estate market comes with many considerations and decisions. Read the rest of this entry »

In my last update, I wrote about the American Taxpayer Relief Act, the eleventh-hour Fiscal Cliff compromise legislation, which narrowly avoided the return of U.S. estate tax for owners of US properties dying with a global estate worth more than $1 million. It was great news, especially for Canadian Snowbirds and real estate investors looking to take advantage of US real estate prices without jeopardizing the Canadian inheritances destined for their children.

But, as we say, the only sure thing in tax law is that the rules will change eventually. True to form, the latest budget proposal from the US government is suggesting changes that could have significant implications, both for Canadian Snowbirds and US citizens living in Canada. In particular, the ‘permanent’ $5 million estate tax exemption amount is back in play, and major changes in the treatment of certain trusts are proposed. Read the rest of this entry »

Last week a bipartisan group of US Senators known as the “Gang of Eight” unveiled their proposed US immigration reform bill. The 844 page document contains what amounts to an overhaul of almost all aspects of the current US immigration system. It is still to be seen how much of the original bill will make it through the US congressional process. As it stands right now, the bill contains numerous changes of particular interest to Canadians. Read the rest of this entry »