Can a persons estate declare bankruptcy?

January 14th, 2007 by Questions

If an estate has no assets and person has been deceased for 2 years then reassessed for $40,000 in taxes by CRA, what options are availalble

Questions

One Response to “Can a persons estate declare bankruptcy?”



January 16, 2007 at 8:18 am, A licensed trustee said:

If the deceased’s estate has already been “wrapped up” and there’s no money left then there is likely nothing to do. If the estate still has money available then this becomes an obligation that should be paid.

I suggest you talk to whatever lawyer assisted with the deceased’s estate – they should be able to explain what must be done in this particular case.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)