I am a Canadian citizen and non-resident for tax purposes, living abroad for over 20 years. My mother’s health is deteriorating and we’re reluctantly planning the estate. As the only child of a single mom, I am the executor and sole beneficiary in her will. It’s a small estate, just her condo, car, bank accounts and RRIFs.
Upon her passing, I am considering three possible scenarios. What are the pros/cons, cost and tax implications of each? Which makes the most fiscal sense?
1) I remain abroad, sell her condo and transfer the money abroad
2) I remain abroad, hire a property management firm and rent out the condo
3) I immediately return to Canada and assume residence in the condo, try to find a job in Canada
In addition, would there be any advantage to putting my name on the condo title now as a joint owner? Am wondering if it would cost less to simply pay the probate fee and capital gains tax then, rather than expose myself to taxation and jeopardize my non-resident status now?


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