Estates & Trusts Tax Services

Estate Taxation

When an individual dies, the Executor or Administrator of the Estate is responsible for the tax filings of the deceased and the Estate of the deceased.

We can assist in the preparation of these tax filings which include:

• Unfiled Personal T1 tax returns for years prior to death
• T1 tax returns for the year of death – i.e. Date of Death T1 (Terminal T1), Rights & Things T1, etc.
• Estate T3 tax returns – from date of death to final distribution.
• Ongoing Trust T3 tax returns – i.e. for minor beneficiaries, a spousal life interest, etc.
• Obtaining a Tax Clearance Certificate(s)

We offer other Estate tax services such as:

• Review and adjust prior years T1 tax returns
• Advise the Executor or Administrator on tax planning opportunities
• Determine capital gains and losses on deemed disposition of assets at date of death
• Prepare T4 tax slip – Executor or Administrator Fees
• Advise beneficiaries of interest earned after the Estate tax wind-up date
• Request for T2062 (Certificates of Compliance for distributions of capital to non-residents)
• Assist non-resident Executors with Canadian tax compliance on Estates with Canadian assets or income

If the deceased owned a business at the time of death, the Executor or Administrator may also be responsible for any required tax filings of the business. We will work with our business tax team to assist the Executor or Administrator in this area.