The Estate Administration Tax (EAT) in Ontario is essentially what was previously called Ontario’s probate tax. When a person dies with assets in Ontario, whether or not there is a valid will, EAT is payable when estate court certificates are required. Ontario’s government charges a provincial estate…
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#12 What You Need to Know About Canadian Income Taxes on Death At the time of your death, you are considered to dispose of all your capital property (for example, real estate, stocks or jewelry) at fair market value of that time. This is what the government…
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#11 Income Taxes: Much Ado About Lots PART 2 I explain these key Canadian income tax concepts to help you plan your estate. Read part 1 of my post, #10 Income Taxes: Much Ado About Lots. Do you remember the DTT from my previous post? Here are…
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#9 Can You Dodge Probate? Probate need not be perplexing. Probate comes from the Latin verb probare, to prove. As for what probate is, that’s one of the most difficult questions I must answer when a member of the media interviews me. There is no sound bite…
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Suddenly, you learn you are the executor of an estate. Don’t expect to find neat and up-to-date files called, “My Estate Inventory” or “For My Executor”. Few people are that organized. You must, instead, act like a detective. Remember, you are handling another person’s valuables. Be ready…
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“…Time is money…” Do you own an Ontario business? You may be familiar with Ben Franklin’s quote that time is money. You may not, however, know that, almost overnight, your business can lose its value. This can happen when a sole proprietor, partner or shareholder dies. Legal…
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What happens if you die without a will in Ontario? Are you like John? John asked, “If I die without a will, can I avoid paying my creditors since I have no will to probate?” John thought dying intestate (without a will) in Ontario was not a…
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Find out with FP Answers here. Need answers? Call my office today or book a meeting. Estate law is all I do. Ed Olkovich
Kathy had always been told she would be her aunt’s Ontario estate trustee or executor. Kathy was too shy to ask where her aunt’s original will was stored. Then Kathy got a nasty Boxing Day surprise. Suddenly, her aunt passed away and Kathy could not locate the…
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Your Simple Guide to Avoiding Costly Mistakes on Your Estate Journey The Executor Roadmap helps you reduce stress, focus your time and efforts. Handling another person’s money puts tremendous responsibility on you. Take heart. Most executors have no experience. But you need professional guidance to complete your…
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