Left The Country, Left Some Assets: Predicaments And Perils On Death

Moving is hard. There are so many details to take care of, to-dos to check off, people to inform. Moving internationally is even more complicated, often involving far-reaching tax implications and a new language, among other changes. In all the confusion and rush, things can get left behind. When it's assets that are left behind, problems can arise when the non-resident owner dies and their executor or family is left to deal with the consequences.

There are, of course, practical issues that will arise. Aside from the difficulties of geography, where an executor resides outside of Canada, the increase in financial institution compliance designed to prevent income tax evasion and money laundering also makes it increasingly difficult for a non-resident to open an estate bank account or provide investment instructions for financial assets in Canada.