Why a US Annuity Might Be Right for Canadians
Adrian C. Spitters FCSI?, CFP?, CEA? President, Author, Private Wealth Advisor
I Execute Tax-Efficient Investment Portfolio Solutions So That Your Business, Family, And Estate Assets Are De-Risked And Protected Against Financial Risk, Economic Threats, Inflation And Higher Taxes.
Guest Contributor: Peter J. Merrick, TEP
Why a US Annuity Might Be Right for Canadians: Many Canadians wonder if they should explore financial opportunities beyond their borders, and the United States often comes to mind. One such opportunity is the US annuity. But why would a Canadian be interested, and who's eligible?
The Appeal of the US Annuity: For Canadians, purchasing an annuity in the United States can be a strategic move. Firstly, diversifying investments across borders can be a way to spread and minimize risks. If the Canadian market faces challenges, having investments in the US might offer a safety net.
Moreover, many Canadians have strong connections to the US. It might be family living stateside, assets you've accumulated there, or even dreams of relocating someday. If you have any such ties, a US annuity can be especially advantageous, catering to these unique financial connections.
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Are You a Good Fit? Eligibility is key. Your connection to the US plays a pivotal role in determining if a US annuity is right for you. Consider:
If you find yourself nodding to any of these, then you're on the right track. Further ties that might make you eligible include having a US bank account, being married to a US citizen, engaging in active business in the US, possessing a valid US visa, or owning US real estate.
Proceed with Caution: While the idea is tempting, remember that the US financial landscape, especially taxes, can be complex. Before diving in, it's crucial to consult with an expert familiar with US tax laws and international treaties. They can guide you, ensuring your financial decisions are both smart and compliant.
In essence, for those Canadians with connections to the US, an annuity in the US might not just be an option—it could be a wise financial decision. Just ensure you're well-informed and well-advised.
To learn if US Annuities are right for you, schedule an introduction to Peter J. Merrick by CLICKING HERE.
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Who is Peter J. Merrick, CFP, TEP?
Peter J. Merrick, TEP, is a Commentator/Keynote Speaker & Expert in US/ Canadian/International Cross Border and Estate Planning and Insurance & Annuity Planning.
Over three decades, Peter specialized in de-risking and saving his clients up to 40% of their wealth that would have otherwise been paid out because of poor planning. These proven solutions effectively shelter income, reduce taxes on income and estates and defer or eliminate tax on investments and creditor-proof assets for domestic and international clients.
Peter is also an author.
Peter has written three comprehensive LexisNexis business, legal, tax, succession and estate planning textbooks. For 18 years, Peter wrote a column for LexisNexis called "The Bottom Line," one of the largest professional tax and accounting publications.?Peter was also a university and college finance and financial planning lecturer for over 12 years.
Peter is also the author of The Business Novel - The King of Main Street. To read reviews, please click here.
To receive a complimentary digital copy of "The King of Main Street," email me at [email protected]
In 2019, Peter relocated to San Diego, California, from Toronto, Canada. Right now, he sees a number of wealth-saving opportunities resolving long-ignored issues for Canadians in corporate planning, cross-border US and international planning, financial, philanthropic, and estate planning implementation, utilizing Canadian/US Life Insurance and Canadian/US Annuity strategies.
Peter works with high-net-worth individuals and their legal, tax and financial professionals performing Canadian estate freezes and terminal tax planning, as well as those who seek to relocate to the US or have financial interests in the US from places like Canada and other national jurisdictions.
It is absolutely essential that you partner with and work with an expert familiar with the Canadian Income Tax Act, the IRS Tax Code, and US/International Tax Treaties before implementing any strategy in the areas of Canadian estate freezes, terminal tax planning, and cross-border planning.
To learn if US Annuities are right for you, schedule an introduction to Peter J. Merrick by CLICKING HERE.
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