Estate Administration

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Private company shares and life insurance

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It is not unusual to see a corporate beneficiary of a life insurance policy collect the insurance on the death of the insured shareholder. Depending on the circumstances, there are creative ways to use the insurance to benefit such persons as the deceased’s estate or other shareholders of the company.

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Private company shares and life insurance Continue Reading »

Business Succession Planning, Estate Administration, Estate Planning, Executors, Insurance, Liability, Small Business, Succession Planning, Tax Issues

Consider a voluntary disclosure where tax filings are either missing or incomplete

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Your responsibilities as a trustee or executor of an estate may include completing the tax filings of the deceased and requesting tax clearance prior to the distribution of the estate in accordance with the will terms. Let’s say you find out that the deceased’s tax filings were not all up to date or incomplete and you have read about the possibility of tax penalties.

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Consider a voluntary disclosure where tax filings are either missing or incomplete Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Executors, IRS, Tax Issues, Wills
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