My mother is a non-resident of Canada, selling a Canadian house built by my father, who dided in June of last
year. I, her daughter, am administering everything to do with the Canada home and have been since dad died. Upon sale, it was his and her wish to split the sale proceeds among the four siblings, with me taking an administrator's fee. My question: Since the deed is in her name, will we have to bring the money back to U.S. and leave it in an account until next tax year to determine what remains to split four ways? (my mom is 82 and has no ambition to have anything to do with this property, she owns the home she now resides in outright). Also, what is a fair fee for an executor, or administrator? Thank you very much!
Hi Rideau:
This is a question for an estate planner or a tax accountant. In California I believe there is a certain amount of money that can be give yearly to children with out tax consequences. You could also transfer it into an account with her name (might not work because she does't have a social security number) and your name and then possibly spend in accordingly.
Diana 909-945-5763
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