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Cross-Border Estate Planning: The Documents Canadians with U.S. Assets May Have Forgotten to Update
This blog was also featured on Advisor.ca. You can view the article by: CLICKING HERE Most Canadians know they should have a will. Yet fewer stop to consider whether their Canadian estate documents will work as intended when U.S. real...
Read MoreCase Study: Moving to the United States - The Bennett Family’s Move from Canada to California
Many Canadians head south assuming the rules are simple: stay under six months, keep doing what you’ve always done, and everything should work out. But cross-border life doesn’t run on one rule. U.S. immigration, IRS residency rules,...
Read MoreCross-Border Estate Planning: The Documents Canadians with U.S. Assets May Have Forgotten to Update
Most Canadians know they should have a will. Yet fewer stop to consider whether their Canadian estate documents will work as intended when U.S. real estate, retirement accounts or other cross-border assets enter the picture. Consider...
Read MoreAmerican Physicians Moving to Canada: A Prescription for Cross-Border Success
Canada has become one of the top destinations for American physicians looking for a different kind of practice. A more supportive clinical environment. A better quality of life. A healthcare system built around patient care, not prior...
Read MoreChallenges abound for Canadian business owners looking to move manufacturing to the U.S.
Carson Hamill CIM®, CRPC®, FCSI® Associate Portfolio Manager and Assistant Branch Manager, was featured in a Globe and Mail article. CLICK HERE to read the Globe and Mail article on their website. Business owners must examine many...
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What Every American Should Know Before Buying a Home in Canada
Real Life Example Canada Says Tax-Free. The IRS Doesn't Always Agree The Way You Register Your Home Matters Buying Isn't Always the Hard Part Don't Forget Estate Planning The Bottom Line Buying a home is one of life's biggest...
Read MoreMoving to the U.S.? Don't Rush to Convert Your Canadian Portfolio
Written by: Carson Hamill, CIM®, CRPC™, FCSI® & Dean Moro, BComm, CIM®, CRPC™ : Cross-Border Portfolio Managers at Snowbirds Wealth Management For many Canadians relocating to the United States, one of the first financial questions...
Read MoreWhy a U.S. Spouse May Not Want to Inherit Your TFSA
This article was recently published in both MoneySense and Advisor.ca. You can read the MoneySense version by CLICKING HERE and the Advisor.ca version HERE. A Simple Estate Decision That May Not Be So Simple Most Canadians assume...
Read MoreCase Study: The Physician’s Cross-Border Financial Journey
A Case Study in Strategic Planning: How one high-income physician moving from the United States to Canada protected a multi-million-dollar portfolio - and avoided five categories of cross-border tax risk - before ever crossing the...
Read MoreWhy Moving a 401(k) to a RRSP Isn’t Always Tax-Neutral
For Canadians returning home after working in the United States, few financial decisions feel as urgent as what to do with a former employer’s 401(k).Canada’s tax rules appear, at first glance, accommodating. Paragraph 60(j) of the...
Read MoreCase Study: The Miller Family's Cross-Border Financial Journey
A Case Study in Strategic Planning: How one dual-resident couple navigated the complexities of U.S.-Canada tax law to protect their wealth and simplify their financial futureThe Challenge of Living Between Two CountriesSarah and David...
Read MoreThe PFIC Trap: How U.S. Tax Rules Can Punish Canadian Investors
***Click here to view the article featured on the Advisor.ca websiteFor U.S. taxpayers, including U.S. citizens, green card holders and U.S. tax residents, few areas of cross-border financial planning are as misunderstood—or as...
Read MoreThe PFIC Trap: How U.S. Tax Rules Can Punish Canadian Investors
Written by: Carson Hamill, CIM®, CRPC™, FCSI® & Dean Moro, BComm, CIM®, CRPC™: Cross-Border Portfolio Managers at Snowbirds Wealth Management ***Click here to view the article featured on the Advisor.ca website For U.S. taxpayers,...
Read MoreMoving to the U.S.? Your Locked-In RRSP May Not Be as Locked as You Think
Written by: Carson Hamill, CIM®, CRPC™, FCSI® & Dean Moro, BComm, CIM®, CRPC™ Cross-Border Portfolio Managers at Raymond James Snowbirds Wealth Management This article was featured in MoneySense. Click the link below to view the...
Read MoreThe Executive's Exit: Why Your Private 457(b) Can't Cross the Border (and What to Do About It)
Written by: Dean Moro, BComm, CIM®, CRPC™ & Carson Hamill, CIM®, CRPC™, FCSI®: Cross-Border Portfolio Managers at Snowbirds Wealth Management For C-suite executives, physicians, and non-profit leaders, the 457(b) plan is one of the...
Read MoreWhy your U.S. Brokerage Account is a Liability in Canada
Written by: Carson Hamill, CIM®, CRPC™, FCSI® & Dean Moro, BComm, CIM®, CRPC™: Cross-Border Portfolio Managers at Snowbirds Wealth Management For many moving across the 49th parallel, the transition is seen through the lens of...
Read MoreWhen a Canadian Professional Corporation Works, and When It Doesn’t, for U.S. Citizens
Written by: Dean Moro, BComm, CIM®, CRPC™ & Carson Hamill, CIM®, CRPC™, FCSI®: Cross-Border Portfolio Managers at Snowbirds Wealth Management In Canada, incorporating a professional practice is almost reflexive. Physicians, lawyers,...
Read MoreU.S. Tax Obligations for Americans Moving to Canada: What You Need to Know
Written by: Carson Hamill, CIM®, CRPC™, FCSI® & Dean Moro, BComm, CIM®, CRPC™: Cross-Border Portfolio Managers at Snowbirds Wealth Management ⚠️ Why dual tax filing is not a footnote but a defining financial risk 🧾 Dual Filing Is...
Read MoreDoes Inheriting My Mother’s IRA Trigger a Canadian Deemed Disposition?
Written by: Dean Moro, BComm, CIM®, CRPC™ & Carson Hamill, CIM®, CRPC™, FCSI®: Cross-Border Portfolio Managers at Snowbirds Wealth Management ❓ Question: My mother, a Canadian resident and U.S. citizen, passed away and named me the...
Read More🎓 Navigating 529 Plans for US Persons in Canada
Written by: Dean Moro, BComm, CIM®, CRPC™ & Carson Hamill, CIM®, CRPC™, FCSI®: Cross-Border Portfolio Managers at Raymond James Snowbirds Wealth Management Moving to Canada involves navigating a complex web of cross-border tax rules,...
Read MoreDon't Get Taxed Twice: Your Financial Checklist for Exiting Canada
Written by: Carson Hamill, CIM ®, FCSI®, CRPC™ & Dean Moro, CIM®, CRPC™ Cross-Border Portfolio Managers at Snowbirds Wealth Management The year I left Canada, I expected a long list of things to sort out, from forwarding my mail,...
Read MoreMoving to Canada with a ROTH IRA: What You Need to Know
Written by Carson Hamill CIM®, CRPC™, FCSI®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC™, Associate Portfolio Manager When Americans head north to settle in Canada, their retirement accounts...
Read MoreWhy Every Couple Should Rethink Individual vs. Joint Investment Accounts
Losing a spouse is devastating. Losing access to the family’s savings on top of that? Heartbreaking—and more common than many Canadians realize. Imagine waking up after your partner passes away, only to discover that a $400,000...
Read MoreInheriting a 401(k) Before the SECURE Act (December 31, 2019)
Written by Carson Hamill CIM®, CRPC™, FCSI®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC™, Associate Portfolio Manager Question: I inherited a 401(k) in 2018 from my sister, who passed away in...
Read MoreIf You Live in Canada and Have U.S. Accounts: What Happens When You Pass Away
Written by Carson Hamill CIM®, CRPC™, FCSI®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC™, Associate Portfolio Manager Dealing with money after someone passes away is never easy. If the person...
Read MoreUnderstanding Cost Basis A Guide for US Investors Relocating to Canada
Moving across an international border, uprooting your life as a result, comes with a lengthy checklist: new home, new schools, new healthcare system all key parts of a move. What about your investments? Whether you’re a U.S. citizen or...
Read MoreDoes a Backdoor Roth IRA Trigger a 10% Penalty If You're Under Age 59½?
Written by Carson Hamill CIM®, CRPC®, FCSI® Associate Portfolio Manager and Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC®, Associate Portfolio Manager Question: Does a Backdoor Roth IRA conversion trigger a 10% penalty if you...
Read More401(k) Direct Rollover Process Explained
Written by Carson Hamill CIM®, CRPC™, FCSI®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC™, Financial Advisor & Associate Portfolio Manager A 401(k) direct rollover is a method for moving your...
Read MoreDo Canadians Pay Tax on a U.S. Inheritance?
Written by Carson Hamill CIM®, CRPC®, FCSI® Associate Portfolio Manager and Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Inheriting from a loved one in the U.S.? Before you think about what to do with...
Read MoreNaming a US Spouse as Your TFSA Beneficiary? Read This First
Written by Carson Hamill CIM®, CRPC™, FCSI®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC™, Financial Advisor & Associate Portfolio Manager If you're a Canadian with a U.S. citizen or dual...
Read MoreWhy Mutual Funds Don't Travel Well Across the U.S.–Canada Border
If you're planning a move between Canada and the United States and currently hold mutual funds in a non-registered investment account, it’s time to hit pause and take a closer look. While mutual funds are often seen as safe,...
Read MoreTax Considerations for Canadians Selling Their US Properties
Written by the Private Client Solutions Group of Raymond James Ltd., Owning a U.S. property and travelling south to enjoy the sunshine in states such as Florida or Arizona during the cold Canadian winters is enjoyed by many Canadians....
Read MoreIs There PFIC Exposure When Inheriting PFIC Investments Indirectly?
Written by Carson Hamill CIM®, CRPC™, FCSI®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC™, Financial Advisor & Associate Portfolio Manager Question: My father, my last living parent, recently...
Read MoreManaging Capital Gains When Moving to the U.S. With Investment Executive (IE)
Carson Hamill CIM®, CRPC®, FCSI® Associate Portfolio Manager & Assistant Branch Manager had the opportunity to discuss “Managing capital gains when moving to the U.S.” with Investment Executive (IE). CLICK HERE to visit their site or...
Read MoreWhat Happens to My Canadian Parents’ Accounts When They Pass Away and I’m a U.S. Beneficiary?
Written by Carson Hamill CIM®, CRPC®, FCSI® Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, CRPC® Associate Portfolio Manager Your parents, proud Canadians, are living their best lives in Canada,...
Read MoreUnderstanding the 2025 Required Minimum Distribution (RMD) Guidelines for Inherited IRAs
Written by Dean Moro BComm, CIM®, CRPC®, Associate Portfolio Manager, & Carson Hamill CIM®, CRPC®, FCSI®, Associate Portfolio Manager & Assistant Branch Manager In 2025, new guidelines for required minimum distributions (RMDs) on...
Read MoreHow WEP Shortchanged Retirees—and Why Its Repeal Is a Win for Fairness
Written by Carson Hamill CIM®, CRPC®, FCSI®, Associate Portfolio Manager and Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Did you know that a little-known rule called the Windfall Elimination Provision...
Read MoreSmart Strategies for Canadian Grandparents Supporting U.S. Grandkids
Written by Carson Hamill CIM®, CRPC®, FCSI®, Associate Portfolio Manager and Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Saving for your grandchildren’s education can be challenging enough, but add the...
Read MoreWhat if the Simpsons Moved from Springfield to Canada
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager Imagine the Simpsons packing up and leaving Springfield for Canada....
Read MoreHow life insurance gets complicated for cross-border clients
Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager had the chance to discuss life insurance and its cross-border implications with The Globe and Mail. CLICK HERE to visit their site or see below for the...
Read MoreWhich Types of Pension Income Can Be Split in Retirement? Canada/U.S. Accounts
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Pension income splitting can be an effective tax-saving strategy for Canadian retirees,...
Read MoreWhat Happens When You Contribute to a 401(k) or IRA from Canada
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Question: As a U.S. citizen living in Canada and working remotely for a U.S. company, can...
Read MoreMoving Across Borders – What Happens to Your Term Life Insurance and Beneficiaries?
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager So, you’ve packed your bags, said goodbye to friends, and are ready to embark on a new...
Read MoreShould a Canadian Living in the USA Consider Purchasing Permanent Life Insurance?
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Life insurance is a cornerstone of many wealth planning strategies, offering security and...
Read MoreThe Hidden Risks of U.S. Individuals Buying Permanent Life Insurance While Living in Canada
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager When it comes to securing your financial future, life insurance is often a critical...
Read MoreDeath Benefit Clarity through Irrevocable Life Insurance Trusts (ILITs) Planning
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Life insurance is a cornerstone of estate planning, a financial safety net designed to...
Read MoreDoes Renouncing U.S. Citizenship While Living in Canada Cancel My U.S. Social Security?
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager Deciding to renounce your U.S. citizenship is a significant and personal decision that...
Read MoreHow to Handle Required Minimum Distributions (RMDs) for Multiple Retirement Accounts
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager When it comes to retirement savings, it's not uncommon for individuals to hold multiple...
Read MoreShould a US Person living in Canada have a TFSA?
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager and Assistant Branch Manager, and Dean Moro BComm, CIM®, Financial Advisor and Associate Portfolio Manager Many U.S. citizens residing in Canada face a unique financial...
Read MoreCanada ---> U.S.A.: Essential Steps Before Moving to the United States
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager If you're relocating to the United States, consider these five...
Read MoreRegistered Education Savings Plans (RESP) for U.S. Individuals: Various Applicable Scenarios
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager The question often arises: Can a U.S. individual hold a RESP? While...
Read MoreCan a U.S. Citizen Collect Survivor Pension from a Deceased Canadian Husband?
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager Navigating the complexities of cross-border benefits can be...
Read MoreUSA Professionals Moving to Canada: Navigating the Non-Registered Investment Account Maze
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager A Simplified Employee Pension (SEP) plan provides business owners with a simplified...
Read MoreAvoid Probate with a Transfer on Death Agreement for your U.S. Brokerage Accounts
Written by the Private Client Solutions Group of Raymond James Ltd., U.S. residents with retail investment accounts at Raymond James (USA) Ltd. (RJLU) can name beneficiaries to inherit their accounts with a transfer on death agreement...
Read MoreMoving to Canada With a Health Savings Account (HSA) - What You Need To Know
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager A common question we get asked is what happens to a Health Savings Account (HSA) when a...
Read MoreQualifying for Both Social Security and CPP - What You Need to Know
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager The question often arises for Canadians who have worked in both Canada and the U.S.: What...
Read MoreWhat happens to an RRSP when a client relocates to the US
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Sonya Dolguina CPA, CPA (IL) Carson and Sonya were featured in The Globe and Mail to write an article about how, if a Canadian tax resident...
Read MoreChoosing A U.S. Resident as Your Executor Requires Caution
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager In the domain of estate planning, the choice of an executor and...
Read MoreA Guide to Rolling Your 403(b) into an IRA
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager Effectively managing your retirement savings requires adaptability....
Read MoreDiscounted Bonds vs. GICs: Maximizing After-Tax Returns
Written by Dean Moro BComm, CIM®, Financial Advisor and Associate Portfolio Manager & Carson Hamill CIM®, CRPC®, Associate Portfolio Manager and Assistant Branch Manager In the world of investments, where maximizing returns is a...
Read MoreReasons to Consider transferring your 401k to a Rollover IRA
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager You've left your employer, or you’ve retired, but here's the twist -...
Read MoreThe Implications of Using a U.S. Address on Investment Accounts When Moving Abroad
Written by Carson Hamill CIM®, CRPC®, Associate Portfolio Manager and Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Portfolio Manager It is not uncommon to hear stories of people who have relocated from the U.S. to Canada...
Read MorePassive Foreign Investment Company (PFIC) and Why You Should Avoid Them
If you are a U.S. citizen or Green Card holder and reside in Canada, you need to be aware of passive foreign investment company (PFIC) rules and the potential tax liability from owning them. This post will help educate you on this...
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