Estate Accounting

In plain terms, Estate accounting is accounting which involves the settling of an estate.

When someone dies, their possessions or 'estate' is handled by someone appointed as an executor, and this individual must keep accurate accounting records as the estate is tended to.

It's important to note that there are special accounting issues involved in dealing with estates, as tax liabilities can pursue people - even after death.

Estate accounting may also include the preparation of final tax returns for the deceased as well as the advisement of any beneficiaries about their own taxes. Remember, a financial inheritance can come with tax liabilities.

 

How can Beyond Numbers help me?

We advise our clients along with their family and loved ones to always make plans for their estates before they die, and our specialized estate accounting along with our Wills Creation can simplify things greatly.

Beyond Numbers has decades of experience in dealing with the sensitve and complex issues of Wills and Estates, and can help our Edmonton and area clients navigate through the process.