Wills and Estate Planning
You and your family have worked hard to accumulate assets over the course of a lifetime. Unfortunately, as the old saying goes, death does not provide an 'escape' from taxation. The departure of a family member presents a number of challenges to the deceased's executor in order to ensure that the maximum estate value is left to the intended heirs. This is further heightened by the fact that an executor is personally liable for the deceased's unforeseen tax liabilities. The death of a taxpayer presents a number of opportunities to minimize income tax realized by the estate. In doing so, we ensure that all filings are appropriately prepared and submitted. Where requested we will assist in reporting to the estate's beneficiaries and request the requisite clearances from the Canada Revenue Agency. Recognizing that the key to minimizing tax is early planning prior to death, we are well versed in the use of family trusts, estate freezes and charitable giving as several means of achieving this objective. Reviewing your Will and making recommendations in order to improve the same, we can also plan to minimize provincial probate fees realized upon death. |
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Wills and Estate Planning |