Have you thought about leaving a legacy? How will your wealth be distributed when you die? Estate planning involves several elements such as last will and testament, power of attorney, estate trusts, deemed dispositions and much more! It’s important to be knowledgeable about the estate planning process as it can get fairly expensive.
Filing a T1 Terminal Tax Return
A T1 Terminal Tax Return is to be filed upon a tax payer’s death. According to Canadian tax law, a taxpayer is deemed to have disposed of all of their property at the fair market […]