Video Length 00:06:00
A person has died leaving two minors in high school. Her brother is their guardian and executor.
Shares were sold after her death and also there was an insurance payout – paid to the LPR with taxable and non taxable items.
Other than that proceeds of the sale of her ppr and sales of small personal assets are all being held by a lawyer.
Two testamentary trusts were set up to cater for the children’s education and welfare.
We discuss who actually pays the tax on income of a deceased estate.