Estate Tax Returns
Filing an income tax return for a deceased person’s estate requires status as the estate’s legal representative, as well as knowledge of the deceased’s tax information from previous years. The tax information can be obtained from the Canada Revenue Agency when the correct documentation is provided. A return can then be filed for the estate and is a separate return from the deceased’s final return.
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Estate Tax Planning
Guaranteeing lifestyle is the goal of financial planning. It starts with identifying your dreams, short-term, and long-term goals. Financial planning includes what you are currently doing, should be doing or perhaps be doing differently to achieve your desired goals.
Accumulating wealth is one aspect of good planning. Having control of and protecting your assets and planning for your family in the event of illness, disability or death while you are healthy and alive is another part of good financial planning.
Contact our team at AACT Financial Solutions for further details.