If the deceased had a second will pertaining to foreign assets, and the domestic executors either do not know about this second will, or cannot deal with the foreign executors on a timely basis, would the status of the estate as a graduated rate estate (“GRE”) be invalidated if only the domestic executors elected for the estate to be a GRE?
CRA reiterated its view that there is only one estate, which encompasses all of the world-wide property of the deceased, and noted that there could be issues as to whether the domestic executors have the ability to make the GRE designation (under para. (d)) and (respecting para. (e)) that the domestic executors would need to ensure that the foreign executors did not purportedly designate their portion of the estate.