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Her mother told me that if the entire sum of the estate was given to her daughter, "It would be spent in days."
The mother will have to change the way the accounts are set up today in order to cautiously dole money out. It does make one wonder why the accounts were ever set up as "joint" or...
Very well could be. My thinking was based upon USA tax laws whereby you can transfer $16k (this year) with no tax consequence. Could be a different situation in Canada. I'm sure there was no consideration given to reporting the 'gift' as income. I would guess that over the years, the most...
Yes. I have helped her transfer funds to her daughter in the past through the use of PayPal. But those amounts were typically $500 to $1,000. They could have been under the radar I suppose. The only fees involved that I'm aware of were the PayPal fees.
Are there attorneys in the USA that would be familiar with Canadian issues such as this?
And aside from the complications brought forth by the Canadian consideration, are there firms that manage periodic distributions from an estate?
Thank you for the help.
An 79-year old female acquaintance, Ann, living in Missouri, USA has a physically handicapped daughter living in a residence in Canada. The single daughter's two children live with her. The daughter currently receives financial aid from the Canadian government due to her disability. The...
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