: Limits on Canadian gifting 0,000 to a friend in US Friend recently passed leaving all her annuities to 91 yr. old sister in Canada who is very wealthy and does not need the money. The Canadian relatives who have power

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Limits on Canadian gifting 0,000 to a friend in US
Friend recently passed leaving all her annuities to 91 yr. old sister in Canada who is very wealthy and does not need the money. The Canadian relatives who have power of attorney for the sister want to gift me 0,000 as they were aware that my deceased friend was in the process of changing annuity beneficiary on that amount from sister to me. She passed suddenly and was not able to finish her plan with designating some of the annuity money to me. What if any tax consequences would there be or is there any Canadian rule/law preventing them from doing this? Annuities are held in US insurance companies. Funds will be distributed to the sole beneficiary in Canada. What is the best way to get the money my friend intended me a to have? I am US citizen as was my friend.

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