Juan Pablo Montoya Crash at Daytona

by Trading Videos on May 20, 2012

Last night’s Daytona 500 was one of the most bizarre and entertaining races we have ever seen. Tide laundry detergent was used to clean up Juan Pablo Montoya’s crash that erupted into a fireball. Brad Keselowski was live tweeting from the track. The race took over 36 hours to complete through rain delays. In the end, Matt Kenseth was in the winner’s circle. Watch more Racing stories at: www.youtube.com Follow Rick on Twitter: twitter.com TYT Sports on Facebook: www.facebook.com
Video Rating: 4 / 5


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Question by rwbit2: US citizen receiving stock inheritance living in Canada?
I am to receive an inheritance from my US father including stocks and bonds (let’s say $ 50,000 value). Problem is, I am a US citizen currently living in Canada with 3 year work permit.
Is there an relatively easy way to receive these stocks and bonds?
My Canadian banker hasn’t got a clue. My 401k in the states won;t accept new contributions while I am in Canada.
I could cash out but I would rather keep the stocks/ bonds. Any tax implications?

Best answer:

Answer by Thor
As long as those stocks and bonds are not in a tax deferred account you get “stepped up value” which means the tax basis changes to the price on the day of death and there is no taxes, no gains. There may tax on any interest since death but you have to pay that anyway.

So cashing them out is not a problem, not taxable, unless the total estate was many times larger and there would be estate taxes. But the executor should take care of that anyway.

You could simply contact a broker in the states and move them in to a brokerage account there. I think it would be a simple transfer.

I would also suggest you could contact a broker in Canada and they could likely advise you. But I suspect it is easier to sell and move the money than move the particular investments themselves.

Good Luck, condolences on your loss.

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