Death & Trust Tax Return
After the death of an individual, the Estate or Legal Representative is responsible for taxes and filing of terminal/final and estate tax returns. An estate is a form of trust. There are two types of trusts (inter-vivos trust and testamentary trust).
When somebody passes away, the Estate or Legal Representative may have many questions for the final or estate tax return of the deceased. Some of these are:
- Can I claim funeral expenses?
- Can I claim medical expenses?
- What do I do with the income (T) slips received after death?
- What do I do if I received any insurance benefits?
- What will happen to the money sitting inside an RRSP account?
- What do I do with the business and property he/she owned?
Let us ease the stress and headaches of estate and trust taxes, while you deal with what matters most. At Taxwide, we can complete any estate or trust tax return. We strive to make sure all these matters are dealt with accurately and optimally.