Gary Booth CA Professional Corp.
#406 - 555 Burnhamthorpe Rd. | Toronto, On | M9C 2Y3
Tel: 416-626-2727 | Fax: 416-621-7136
E-mail: [email protected]
https://www.deceased-tax-returns-canada.com

What is passing of accounts? It is an accounting procedure whereby the estate administrator reports to the estate beneficiaries the following information:

1. assets received

2. management of the assets

3. the money received

4. the money spent and

5. the money left over to be divided among the beneficiaries.


Why is it Important?

The passing of accounts is needed to protect both the beneficiaries of an estate and the administrator who manages the affairs of the estate for the following reasons:

1. The beneficiaries need to know the following:

a. how much distribution he or she is to receive

b. ensure the amount of the distribution he or she receives is correct and

c. ensure the administrator of the estate has acted honestly and in the best interest of all beneficiaries.

2. The administrator on the other hand wants to be certain that the beneficiaries are satisfied and receives the amounts that are due to them.

This will require the work of a professional and we have the experience and expertise to do the necessary work.

We look forward to hearing from you. For more information, phone us at 416-626-2727. You can also visit our website at deceasedtaxreturns.com or e-mail us at [email protected]. Thank you.