Posts Tagged 'estate'

Preparing the Final Tax Return

Preparing the Final Tax Return

Courtesy of Janet Baccarani & Jennifer Black from DFS Private Wealth.

Preparing a Final Tax Return

In our ongoing series on Death and Taxes, we look at a few of the common questions associated with preparing a tax return for someone who’s died.

Who is responsible for filing the deceased’s final tax return?

The deceased’s legal representative is responsible for ensuring that the tax return is filed. The legal representative would be the Executor (as named in the will) or the Administrator ...

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Will you be my Estate Trustee?

Will you be my Estate Trustee?

What to do when someone asks you to be their Trustee.

Courtesy of David Mills from Mills & Mills LLP. And contributed by J. Paul Mills, Q.C.

If someone asks you if you are willing to be her or his Estate Trustee, Executor, Attorney for Property or guardian of children, you should not automatically say “Yes”. Acting in any one of these fiduciary capacities can be seen to be an honour but there are very serious responsibilities involved which should not be ...

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Death & Taxes Part 2

Death & Taxes Part 2

Courtesy of Janet Baccarani & Jennifer Black from DFS Private Wealth.

Widows and widowers can face a variety of distinct issues come tax time. In our second installment on “Death and Taxes”, we examine RRSP options.
RRSP options after the death of a spouse

Let’s first deal with what some might consider the obvious. No contributions can be made to a deceased individual’s RRSP after the date of death.

Note however, the deceased individual’s legal representative can make contributions to the surviving ...

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