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Don't leave home without top tips from cross border firm Altro Levy
TORONTO, Oct. 24, 2013 /CNW/ - With the turkey transformed into sandwiches and soup, the post-Thanksgiving dash to the Sun Belt states is next on the radar for Canadian snowbirds. Canadians are the biggest foreign purchasers of U.S. residential real estate and already own an estimated $50 billion worth in Florida alone. That same state hosts over 500,000 Canadians each winter and if the top five snowbird destinations - Florida, Arizona, California, Hawaii and Texas - are included, the number of Canadians wintering in America is exponentially higher - and growing. Beyond snowbirds, there are thousands of Canadians who choose to take up permanent residence in the U.S. each year. Whether planning a routine winter in the Sun Belt, considering a first purchase or a permanent move, Altro Levy says Canadians need to brush up on the latest legal developments that will affect them this 2013/14 season.
"Tax, healthcare and real estate laws are complex and ever-evolving and the fact that they vary between states and provinces doesn't make things any easier for snowbirds," says David A. Altro, Managing Partner at Altro Levy and author of the new book Owning U.S. Property the Canadian Way. "That's why it is so important Canadians take the time each year to review any changes that could impact their purchase, their stay or their wallet."
Altro Levy has outlined some of the most important developments impacting Canadians with either U.S. property or considering a permanent move this year:
About Altro Levy
With over twenty-five years of legal experience, Altro Levy LLP is a boutique law firm providing sophisticated cross border tax, estate planning and real estate legal services to high net worth individuals. With offices in Montreal, Toronto, Calgary, Vancouver, Florida and Arizona, Altro Levy serves all Canadians and Americans who wish to enjoy a cross-border lifestyle. The firm regularly represents Canadians who have U.S. assets, Canadians with adult children in the U.S., Canadians moving to the U.S., as well as Americans in Canada. The firm works together with investment advisors, accountants, attorneys, wealth managers and other professionals to develop and implement the best possible tax and estate plans for Canadian clients. For more information, please visit www.AltroLevy.com
SOURCE Altro Levy
Image with caption: "Whether planning a routine winter in the Sun Belt, considering a first purchase or a permanent move, cross-border firm Altro Levy says Canadians need to brush up on the latest legal developments that will affect them this season. (CNW Group/Altro Levy)". Image available at: http://photos.newswire.ca/images/download/20131024_C6746_PHOTO_EN_32505.jpg
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