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I am a Canadian who owns a house in Florida and I need to…

I am a Canadian who...
I am a Canadian who owns a house in Florida and I need to know if I need an American Will in the event of death to pass on the house to my wife who is also a non American citizen.Also is there any Estate tax to pay in Florida to pass on the house to my wife in the event of my death, the house is in my name.
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Answered in 17 minutes by:
3/12/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,650
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Customer reply replied 1 month ago
Thank you

For US estate tax purposes, you being a non US person passing a US situated property to your non US citizen spouse will mean an estate tax return is required when you pass away. At death, any taxable bequest beyond the lifetime applicable exclusion is taxed at 40%. That lifetime amount for a non US person is $60,000. So estate will be paid if your US estate is over $60,000.

As to your first question about the will, that is not a tax question and you would need to seek the advice of an Estate attorney.

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Please stay in this thread.

If the house is valued at $250,000 then subtract the $60k. That means $190,000 is taxed.

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Customer reply replied 1 month ago
Ok I understand this but at what rate % of tax on the $190,000 ? Is there any way to get around this tax since it is my wife. Should both names be on the title?

40%

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If both own then the one inherits the others half.

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Customer reply replied 1 month ago
Therefore there is no tax if both spouses are on the title of the house

I would suggest you speak to an estate attorney to see how to title

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Customer reply replied 1 month ago
Ok thank you very much

You are most welcome.
A positive 5 star rating is appreciated so I am credited for assisting.

Robin D.
Robin D., Senior Tax Advisor 4
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Experience: 15years with H & R Block. Divisional leader, Instructor
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