Thursday, August 11, 2011

POD account from US citizen to a Canadian beneficiary?

My uncle (US) intends to designate his brother (a Canadian) as a POD recipient and the recipient of house trust monies upon my uncle's death. What info must my uncle give to the bank to set up the POD accounts? Also what tax implications and forms must be filled out by his brother and/or the executor/trustee of the estate?

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