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Trust and Estate Tax Returns

 
 

While there are no death taxes in Canada, there are other tax obligations that must be addressed by the executor and/or heirs of the estate. When an individual passes away a new tax entity is formed: the trust or estate. These legal entities must file tax returns, either the last return for the deceased or for the trust. Every executor should make a list of the set up and assets within the will, and decide if they can handle the work or if they should seek professional help. When an estate or trust involves complex financial structures, or a fair amount of money, it is always a good idea to consult an expert. ATS is able to handle all your estate and trust issues, while keeping you au current as to what is taking place. Please note that it is highly recommended that the Trust and Estate be set up in advance to maximize the tax benefits for the heirs.