In this episode of Advisors Table, we break down the hidden risks executors face when handling an estate, and why “doing everything right” still isn’t always enough to protect you from CRA reassessments, penalties, and personal liability.

From Reddit stories about 30+ years of non-filing to real-world cases where executors were forced to pay tax bills out of their own pockets, this conversation walks through how estates are reviewed, why clearance certificates matter, and how past transactions can resurface years later.

This isn’t about fear — it’s about knowing the rules before you’re responsible for someone else’s finances.

In this episode, we cover:

• What an executor is — and why they can be personally liable for unpaid taxes
• What a CRA clearance certificate actually does
• How CRA can reopen old transactions during estate reviews
• How shareholder loans, donations, and business valuations can trigger surprise tax bills
• What probate really costs — and how dual wills can reduce fees
• Why CRA phone advice can still leave you legally responsible
• What you should do today to protect your executor

If you’ve been named as an executor — or plan to name one — this is a conversation you need to hear.

Links:

1. The $10M Tax Bill When a Business Owner Dies

2. CRA Takes 80% When You Die

3. Download the Executor Checklist: theadvisorstable.com/executor

Looking for trusted tax advice?

Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group.

Email: [email protected]
Website: cedargroup.ca

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Have you ever been named as an executor, or had to deal with an estate and CRA? Share your experience or questions below.

Timestamps:

00:00 – Reddit case: 34 years of unfiled taxes after death
05:10 – Why executors suddenly discover hidden tax problems
10:45 – What a clearance certificate really protects you from
15:40 – What CRA actually reviews before approving a clearance certificate
20:30 – Why CRA can refuse your certificate (and reopen old years)
26:10 – Real story: legal costs and mini-audit even after doing things right
30:05 – Probate explained: why banks and courts won’t trust executors automatically
35:50 – Dual wills and how probate fees can be reduced
41:40 – Common traps even for people who always filed on time
47:10 – CRA agents giving wrong or incomplete advice
53:10 – Why you should never rely only on CRA phone guidance
58:45 – Preparing your executor before you pass away
1:04:50 – How to choose and confirm the right executor
1:10:40 – Backup executors and building a professional support team
1:18:55 – Final action plan and executor checklist (closing)