Assistance with Estate Settlement and Administration
Estate and trust administration is time-consuming and requires expertise and knowledge. The process involves identifying assets, setting up proper records, following accepted procedures, and fulfilling ongoing legal and tax requirements. The burden of learning tax and legal concepts, processes, and procedures can be overwhelming. Leaving matters undone will result in years of questions and follow-ups by tax authorities. A surviving spouse or executor (liquidator in Quebec) of a will may find this responsibility daunting during an already difficult time.
Estate Settlement
Estate Settlement
Estate and trust administration is time-consuming and requires expertise and knowledge. The process involves identifying assets, setting up proper records, following accepted procedures, and fulfilling ongoing legal and tax requirements. The burden of learning tax and legal concepts, processes, and procedures can be overwhelming. Leaving matters undone will result in years of questions and follow-ups by tax authorities. A surviving spouse or executor (liquidator in Quebec) of a will may find this responsibility daunting during an already difficult time.
When a death occurs, we provide expert estate consultations as well as assistance with estate settlement through Kerr Financial Consultants Inc. (KFC) intended to make a complex and tedious job more bearable while generating the best tax results. Additionally, we focus on developing a new financial plan for the survivor.
We can assist executors with:
- 1Meeting with the family to discuss the will, arranging for probate of the will if required and for tax clearances.
- 2Organizing the estate as it pertains to business interests, including discussions with partners/shareholders.
- 3Coordinating the establishment of trusts and assisting with compliance.
- 4Preparing a statement of assets and liabilities and providing a complete accounting service for the estate as well as completion of all required tax returns for the settlement period and for ongoing trusts and estates.
- 5Ensuring all legacies, debts, taxes and death duties are paid.
- 6Assisting with transferring title on securities and other assets.
- 7Follow up and ensuring payment from insurance as indicated.
- 8Developing financial plans for the survivors, to ensure that all proper steps are taken toward their financial security and independence.
