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Estate Accounting & Trust Tax Return Preparation

One of the more challenging areas in managing an estate is perhaps preparing the estate accounts and the preparation of the T3 trust tax return.  The accounting format is defined by Ontario regulations and court practice and has little semblance to common accounting formats.  The accounting can also be tedious and time-consuming to prepare.  By relying on AccounTrust for the preparation of the estate accounting and the related trust tax returns, fiduciaries (whether in the capacity of trustee, executor, attorney or guardian) can rest assured that they are managing and administering an estate with the highest standard of care, and in the best interest of all beneficiaries.

Our goal is to make the involvement of estate Executors easier and more efficient. AccounTrust works with estate Executors to provide professional results in a timely and efficient manner for estates of all sizes including:

  • Preparation of a Statement of Accounts in Ontario court-passing form
  • Periodic write-up and recording of estate transactions
  • Calculating Executor’s Compensation
  • Estate T3 Trust tax return(s) preparation
  • Final personal tax return (T1) and optional return(s) preparation for the year of death
  • Representation before the Canada Revenue Agency in connection with its examination of the Final T1 and the T3 Trust tax Returns