Inheriting an IRA while living in Canada

Get a Financial Plan that Optimizes Your Inheritance

When you inherit an IRA while living in Canada, you might not know all the options available to you.

When you work with an advisory team licensed in Canada and the US, they can manage IRAs whether you live in Canada or the US. We offer solutions on how to withdraw the money if you inherit in Canada or the US and offer advice on how it can be managed.

Prevent Cross-Border Complications

What you may not know is that an IRA keeps its tax-deferred status regardless of whether a spouse, children or grandchildren are named as beneficiaries. Additionally, the SECURE Act in the USA mandates that a non-spouse inheriting an IRA must take distributions that empty the account within 10 years.

At SWAN we offer a multi currency platform, so we can manage investments in Canadian or US currency regardless of which side of the border you live on.

At SWAN Wealth Management we help in the following ways:

• Manage your IRA and retirement accounts from Canada or the US
• As a portfolio manager we are not limited to just investing in mutual funds but can choose holdings tailored to your individual needs
• Guidance on retirement benefits such as CPP, social security and medicare
• Transfer your investments from the USA to Canada keeping in tax deferred account
• Hold investments in US and/or Canadian currency on both sides of the border
• Minimize your tax burden by creating a tailored financial plan
• Manage your investments over the long-term so you can retire happy
• Provide access and management to your investments no matter what side of the border you live
• Understand the tax implications of various investment strategies
• Create a financial plan that serves you in the short and long-term
• Act following our fiduciary duties to ensure every aspect of your financial plan is in your best interest

To get started simplifying your cross-border finances and investments, schedule a call below.

Schedule a Call