Are there any taxes to be paid?

The executor will need to attend to the final income tax returns and applying for the tax clearance certificate. This certificate confirms that all income taxes or fees of the Estate are paid. It is important to ensure this is done correctly and you may wish to consult with an accountant. If the estate’s taxes are not paid, then you as the executor may be personally liable for paying them, so obtaining a clearance certificate is crucial.

Copyright © 2016 Montgomery Miles & Stone Law Firm. All Rights Reserved
Website Powered by Cutting Edge Concepts