f my Canadian parents have made my brother and I executors of their Will and my brother lives in Canada but I in the US, will the IRS collect tax?

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f my Canadian parents have made my brother and I executors of their Will and my brother lives in Canada but I in the US, will the IRS collect tax?

In my opinion, because my brother is co-executor and resides in Canada, it is not a problem and therefore, I will not have to pay estate tax to the IRS. Who is right?

Asked on August 12, 2012 under Estate Planning, Michigan

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The fact that your brother resides in Canada and is the co-executor has no bearing on estate taxes.  It is the assets of the decedent that govern estate taxes. If your paretns are residents of Canada and have all their assets in Canada why would you pay US Federal estate taxes?  Becuase you live here?  Estate taxes here are imposed on the estate, not the beneficiaries.  Get help.  Good luck.


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