Episode Summary

In this episode, Gordon and Jenna dive into the complexities of administering estates with international or cross-border assets. Whether it’s a vacation home in Portugal, a U.S. investment account, or a bank balance left behind in another country, executors need to navigate legal, tax, and logistical hurdles carefully to avoid missteps.

As more Canadians hold global assets, this episode offers timely advice for executors and estate planners to help protect estate value and minimize risk.

Key Topics Covered

Why International Assets Matter More Than Ever

• Rising immigration, cross-border property ownership, and global investment trends
• Executors are increasingly managing estates that include assets abroad

The Three Buckets of Executor Complexity
1. Legal

• Determine if the asset is even part of the estate (joint ownership or forced heirship may apply)
• Local legal advice is critical—Alberta lawyers cannot provide foreign legal counsel
• Understand if Alberta probate is accepted or if a local process is required

2. Tax & Financial

• CRA requires reporting of worldwide assets
• Other countries may impose inheritance taxes, capital gains, or require separate filings
• Ensure your Canadian accountant collaborates with local professionals to avoid double taxation

3. Logistics

• Can the executor manage the property remotely or is travel required?
• Hiring local agents or appointing a secondary executor can reduce strain
• Consider document translation, asset security, and local notification requirements

Planning & Administration Tips

For Estate Planners

• Consider creating a secondary will for foreign property
• Appoint a local executor or agent when appropriate
• Document property details, professionals involved, and any tax filings related to the asset

For Executors

• Don’t rely on Alberta legal or tax assumptions—foreign rules often differ
• Get advice early and confirm if local probate, tax returns, or property management steps are needed
• Wait to distribute the estate until all foreign tax and legal matters are fully resolved
• Explore local equivalents to clearance certificates or notice to creditors for protection

Final Thoughts

Cross-border estates require more than just good intentions—they require professional support, proactive planning, and strong documentation. Whether you’re an executor facing international property or planning your own global legacy, this episode helps point you in the right direction.

🔗 Subscribe wherever you get your podcasts or watch on YouTube.
 Need referrals for cross-border legal or accounting help? Reach out to Gordon or Jenna directly.
 Thanks for listening to Estates Made Simple!

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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