When You Inherit a Tax Mess

Author: Varinder Chahal, CPA, CGA and Laura M. Peach
Current to: October 2024

Sharpen your skills with our latest Practice Point, crafted to help you navigate the complexities of law with confidence.

Penned by Varinder Chahal, CPA, CGA of Manning Elliott LLP and Laura M. Peach of Legacy Tax + Trust Lawyers. “When You Inherit a Tax Mess” was presented at CLEBC’s Wills, Estates and Trusts Conference 2024. The paper is now available as part of CLEBC’s Courses on Demand subscription.

Estate administration often requires personal representatives to address tax mistakes left behind by the deceased, a task that can jeopardize estate assets and strain beneficiary relationships. This paper tackles key issues, including unreported tax income, missed elections, and rollovers — whether overlooked or unwanted — providing practical strategies to mitigate their impact.

The authors also explain the tax debt collection process and the critical importance of resolving outstanding liabilities before distributing estate assets.

This Practice Point will equip you with essential insights to guide clients through these challenges and minimize risks. Don’t miss it!

View PDF of the paper