North America: Family and Matrimonial

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Welcome to the Mondaq Family and Matrimonial homepage, here you will find thought leadership articles, podcasts, videos and webinars providing insights covering topics such as Divorce, Family Law, Wills and Estate Planning.
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Article
Estate And Tax Planning For Cross-Border Couples: TFSAs And The IRS
Cross-border couples face complex tax implications when a Canadian spouse names their U.S. citizen partner as beneficiary of a Tax-Free Savings Account (TFSA). While TFSAs offer tax advantages in Canada, the IRS treats income from these accounts differently for U.S. persons, creating unexpected reporting obligations and potential tax consequences that require careful estate planning coordination between both countries.
Canada Tax
DW
Dickinson Wright PLLC
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