All About Estates

Month: April 2011

Total 21 Posts

TAX REPORTING OBLIGATIONS FOR TRUSTEE AND EXECUTOR FEES – FOLLOW UP

Awhile ago , I wrote that payments made to trustees and executors usually trigger some form of tax reporting and often, an obligation on the payer to withhold and remit amounts on account of tax. Thanks to some welcome and practical feedback from a concerned blogger, I would like to add a few comments.

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The Financial Cost of Caregiving

As the issue of caregiving is now getting election coverage, the costs of caregiving need to be better understood. These include tangible costs such as financial expenses, loss of income, as well as other costs, such as emotional challenges and loss of opportunity identified by family members pressed into service to care for an elderly family member.
For those families who decide to purchase care, this article will review the financial cost of hiring a caregiver.

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Charitable donations made through a will

In many cases, a deceased person will include charitable bequests in their will. The executor(s) of the estate may not, however, be in a position to honour the bequest in a timely fashion due to the lack of available estate funds on hand. In not all cases will this action (or inaction) frustrate the completion of the final personal tax return.

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