Giving Up US citizenship = retaining your services?

Hello-- I am a US citizen and resident of Los Angeles. I am considering immigrating to Vancouver  to avoid estate taxes (and because I really like Canada). I'll be inheriting a large amount of money when my parents pass away, and their estate will be taxed under the US system. I hate the idea, though of paying it AGAIN when I die and leave it to my kids.   I also have real estate investments in California that I intend to keep and also leave to my kids. These make over $100,000 net per year. Part of my parents' estate will become a charitable foundation, of which I will be administrator, and recieve $150,000 annually. In addition to these two sources of income, much of my inheritance will be in the form of bonds (mostly tax free), interest on which may be in the neighborhood of $750,000. So, I am assuming my retiremnt income will be in the neighborhood of $1 million/year.   I am now 50 years old, and my kids are 9 and 12. I think maybe I should start planning on how to avoid heavy taxes now and would very much appreciate your feedback. Please get ahold of me by phone or e-mail.   Thanks, _______________________________________________________________________________-
david ingram replies:

Immigrating to Canada will NOT ELIMINATE US ESTATE TAXES UNLESS YOU GIVE UP YOUR US CITIZENSHIP in which case, you would have a departure tax to the US where everything is considered sold the day you move and where you can NOT ever go back to the US unless for your funeral without special and usually expensive  approval.

I am just too busy for the next week to answer this in any detail and it is too specific for the usual question on this site.

The above was free.

I do charge for the kind of consultation(s) you would need.




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