Estate Planning

Estate planning encompasses many different areas and can become complicated very quickly, especially when taxes are involved. We can help to step back, look at the big picture, and make suggestions to ease the process. Aside from filing the necessary tax returns for the Estate (e.g., Year of Death & Final returns, T3 Trusts), we can provide advice and assistance in other common Estate areas.
Common tax issues with estates
  • The effects of capital gains on your final return
  • RRSP, RIF, & pension management upon death
  • The effect of the probate process on the Estate

Year of Death and Trust Returns

When a loved one passes, the last thing anyone wants to think about is tax returns. We can help relieve some of the burden by taking the work off your hands. We can handle the preparation and filing of the Year of Death and Final tax returns, and, if necessary, a T3 Trust return. Along with the tax filing, we can review and discuss any other aspects of the process you are unsure about and make recommendations for the next steps.

Probate Accounting Services

Depending on the value of the Estate, the Will may or may not have to go through probate. We can review the Estate and determine what steps will need to be taken in either case. We can explain the process to you, explore the potential effects on the Estate, and can offer advice on how to best execute the Will to minimize costs. We are very familiar with Will structures and their effect on the flow of money through an Estate, and can therefore help to ensure that any funds pass to the beneficiaries with the best tax advantage possible.
People signing documents for probate

Estate Review and Management

Given our broad knowledge and experience, we can review all areas of your Estate relating to tax, including RRIFs, TFSAs, RRSPs, and pensions, and can offer recommendations on how to effectively manage your assets. We can discuss relevant details, such as beneficiaries and resource allocations, and help create the most beneficial plan for you and your family. We can work to reduce the amount you pay in taxes and installments and offer advice on what you should change and what to do going forward.

Bill Payment Services

As our population travels more frequently, and as we age, it can become challenging to keep track of the numerous bills we have to pay. In most cases, children or friends can take on this task if required; however, many people do not feel comfortable placing this burden on their friends and family and would prefer to entrust this task to a capable professional. This can relieve a huge amount of stress for an individual or family to know this is being handled competently on a continual basis.
People paying bills with our bill paying services

Additional Estate Services

Along with our tax-related services, we can also help make the necessary preparations leading up to the execution of an Estate, including creating Wills, Powers of Attorney, and Health Care Directives (Representation Agreements). Or, if you are the Executor of a Will and are not sure what your duties are, we can help you with each step of the process. If your needs exceed our expertise, we can refer you to other professionals to assist with creating the best possible plan.

For other ways we can help you with your Estate, including our new Executor Services, check out our Notary Estates page.
For assistance with your Estate, contact our office.
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