Posts Tagged 'tax'

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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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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Death & Taxes Part 3

Death & Taxes Part 3

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

In our continuing series of blogs examining “Death and Taxes”, we turn our attention to beneficiary designations on your RRSP or RRIF.

When your spouse has died, you may need to change the beneficiary designation on your RRSP or RRIF.

Two approaches to beneficiary designations

The designation approach that generally makes the most sense is naming a new beneficiary on the plan application form itself.
In a case where you wish to ...

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