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Canadian Estate Club and Heritage Trust Company Inc.

U.S./Canada Estate Planning, Values Based Estate Planning, and Critical Issues Raised by Cognitive Impairment

Published 11 months ago • 1 min read

Your Estate Matters Newsletter

Your Estate Matters Podcast

Episode 25: Estate Planning for Canadians with U.S. Assets

In this episode, we chat with Cheyenne Reese, Principal at Legacy Tax + Trust Lawyers, to explore the intricacies of cross-border estate planning between Canada and the United States. Cheyenne sheds light on the significant differences in tax laws, the challenges of managing assets across borders, and the implications for U.S. citizens or green card holders living in Canada. The discussion covers practical strategies for expatriation, managing vacation properties, and the importance of professional guidance to navigate these complex issues effectively.

Your Estate Tips

  1. What Naval Ravikant Might Add to His Legacy (and Why It Matters for Estate Planning)

Naval Ravikant emphasizes that embracing mortality can transform estate planning from a ego-focused task to an expression of our most important values. By acknowledging death, we can shift from focussing on preserving our name to securing our loved ones' future. It can be said that true wealth lies in creating peace, both for ourselves and those we will leave behind.

2. Cognitive Impairment, Testamentary Capacity & Susceptibility to Undue Influence: an Overview

Canada faces a significant aging of its population in the coming decades that will have profound and wide-ranging impacts on our society. Statistics Canada forecasts that people 65 or older will make up 22.5% of Canada’s population by 2030. Alzheimer Society of Canada estimates that in 2024, 8.7% of people in Canada over age 65 had some form of dementia. By 2050, the percentage of people in Canada over age 65 living with dementia may go up to 13.2%.
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In our aging society, understanding the intersection of cognitive impairment, testamentary capacity, and susceptibility to undue influence has become increasingly important for estate planners and medical professionals alike to effectively assist affected individuals and families. A basic understanding of these issues will allow us to better protect vulnerable individuals in our offices and in the community at large.
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Here are some ways you can work with us:

  1. ​Book a free consultation with Heritage Trust.
  2. Download our free checklist “Essential Steps for Estate Planning.”
  3. Purchase our course "The Estate Organizer for Canadians."

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Canadian Estate Club and Heritage Trust Company Inc.

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