Full question:
I am an American citizen living as a permanent resident in Canada. Is it necessary for me to make a will for each country or will one suffice? I have assets in each and pay income tax to both countries.
- Category: Wills and Estates
- Subcategory: Foreign
- Date:
- State: Florida
Answer:
When you have assets in both the U.S. and Canada, it may be advisable to create separate wills for each country. This is due to the complexities of probate laws and tax implications in different jurisdictions.
In Florida, if a person dies owning real property and has a will probated in another jurisdiction, they can petition to admit that foreign will to record in Florida. Once admitted, the foreign will acts like a deed, transferring property title to the beneficiaries named in the will. However, having multiple wills can simplify the process and ensure compliance with local laws.
Generally, a jurisdiction will recognize a will made in another jurisdiction if it meets local requirements. However, this is not guaranteed. An international will, which adheres to the International Wills Convention, may also be an option. This type of will is designed to be recognized across different jurisdictions.
In Canada, a will is valid if it complies with the laws of the place where it was made, the will-maker's domicile, or the laws of the country of citizenship at the time of death, among other criteria.
Given these complexities, it is strongly recommended to consult a local attorney in both countries to review your specific situation and ensure your estate planning is effective.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.