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You live your entire life working and accumulating wealth, and are able to do whatever you like with it during your lifetime – spend, invest it, grow it, preserve it or give it away.
More and more Canadians are purchasing U.S. real estate for personal and/or rental use so this is a very important topic to understand before the purchase is made.
The maximum federal claim for 2014 is $7,766 per adult dependant.
Over the summer, Knowledge Bureau will be taking an in depth look at the use of trusts in family wealth planning. An introduction to the topic begins the series.
What exactly do Canadians need to know about owning U.S. real estate?