CCSB routinely advises executors and estate trustees on issues from estate administration tax (formerly known as probate fees) and probating a will, to advising on the duties and obligations of the estate trustee, finalizing the distribution of the estate, dealing with the beneficiaries, dealing with the assets of the estate, and implementing tax minimization strategies.
Some executors only need assistance with a few purely legal issues on an estate while other executors require us to assist in more of the day-to-day administration of the estate. We are able to assist our clients with whatever level of assistance they require.
Estate administration is complex and requires dealing with estate administration tax (formerly known as probate fees), income tax as well as a number of different areas of law. There are many issues the executor must deal with and it requires sound legal and financial advice to avoid taxes and pitfalls.
CCSB’s estate lawyers are experienced with dealing with cross-border estates, particularly with the United States. Whether it is the deceased or one of the beneficiaries, we can assist with the tax and logistical issues that can arise.
Where the deceased owned shares in a private corporation on his or her death, there is the potential for double taxation where no action is taken by the estate. We can advise the executor and implement the steps needed to avoid that double taxation.
Executors need a lawyer’s expertise to assist with the transfer of legal title to assets that form the estate. Whether the executor needs assistance with the transfer of legal title to a home, farm or cottage, private or public company shares, bank or investment accounts, or any other financial instruments, we can assist with all the required formalities.