Legal Question in Wills and Trusts in Washington

Assets out of Country

Our father and mother died leaving me and my two sisters as co-executors and sole beneficiaries. Our parents have bank accounts in the UK and US. Our plan is to transfer the UK funds to the US and then open US accounts in our names. The funds will not be transfered to Canada. Question: Will the UK and US banks report the funds in the estate to the Canadian Government. Value: under $35,000.00


Asked on 4/09/04, 3:06 pm

1 Answer from Attorneys
Amir John Showrai The Pacific Law Firm, PLLC

Re: Assets out of Country

I do not see why a transaction between the UK and US would ever be reported to Canada. What would make the US or UK think to contact Canadian authorities? If you live in Alberta, you may still want to consult a Canadian tax specialist to see what if anything Canadian law requires of you with regard to this inheritence. Good luck!

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Answered on 4/14/04, 2:38 pm


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