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Register to the Ontario Legal Conference – Receive a 15% Discount

Posted on January 22, 2023

AccounTrust is happy to be a sponsor of OBA’s Ontario Legal Conference which is taking place February 8 – 10. A registration discount is extended to those interested in attending. Please see below. 15% Sponsor Discount #ON4C586F87BF https://www.oba.org/OLC ONTARIO LEGAL CONFERENCE February 8 – 10 2nd Floor 20 Toronto Street Toronto, ON | M5C 2B8

Top 10 Tips for Estate Executors

Posted on December 26, 2022

As executor, you’re in a position of trust. The assets are not yours; they belong to the estate and are for the ultimate benefit of the beneficiaries. Manage the assets prudently. The executor has a duty of care to act in the best interest of the beneficiaries. When carrying out this duty, be transparent when […]

New Reporting Requirements for Trusts for 2021 and Subsequent Years

Posted on October 28, 2021

This post is a reminder that new reporting requirements for trusts which were proposed in the Federal Budget 2018 are coming into effect for 2021 and subsequent taxation years. The new requirements oblige trusts to provide additional beneficial ownership information on an annual basis and file an annual T3 return even if one is not […]

The position of executor: from cradle to grave – Part V

Posted on December 12, 2018

By Avi Dahary Personal and Estate Income Tax Part four of this series covered the executor’s duty to ascertain and discharge the debt obligations of the deceased. This part of the series will cover the executor’s duty to ensure that the deceased’s and estate’s tax matters are in compliance with current tax rules. If there was any […]

The position of executor: from cradle to grave – Part IV

Posted on November 1, 2017

By Avi Dahary The determination and discharging of debts and liabilities In part three of this series, I discussed identifying the assets that become part of the estate immediately after death and compiling a list of them in order for the executor to bring them under their control to safeguard them. This part of the series will […]

The position of executor: from cradle to grave – Part III

Posted on March 16, 2017

By Avi Dahary Taking Inventory of Estate Assets In part two of this series, I explored the initial steps one needs to take when they are named an executor in a deceased’s will. In this part of the series, I will discuss identifying the assets that become part of the estate and compiling a list of […]

The position of executor: from cradle to grave – Part II

Posted on February 11, 2017

By Avi Dahary Fact gathering In part one of this series, I provided an introduction to the position of estate executor, including basic principles to follow and implement. This post will explore the initial steps one needs to take when becoming an executor by virtue of being named as such in a deceased’s will. Often […]

The position of executor: from cradle to grave

Posted on January 17, 2017

By Avi Dahary Part I – An introduction to the position This is the first of a 10-part series in which the position of estate executor is explored from the time an individual is named or appointed to the time an estate is wound down. I have found that unless you’re a ‘professional’ executor, meaning […]

Drilling Down on the Deductibility of Paid Executor Compensation

Posted on October 20, 2016

By:  Avi Dahary The uncertainty surrounding whether compensation paid to an estate executor is deductible and if so, how much of it is deductible, has meant that most tax treatments of this issue are to the extremes — either deduct the full amount of paid compensation or none at all. Needless to say, both treatments are often […]

Executors: Prepare for CRA’s due diligence on deceased’s real estate

Posted on April 7, 2016

Occasionally, an estate executor may be in a situation where a deceased’s estate includes a real estate property that consists of attached principal residence and commercial space, which sparks a number of tax-related issues. First, there would be a deemed disposition declared on the deceased’s final personal tax return. This deemed disposition would be in respect of the […]