This post provides basic information about Ontario’s Estate Information Returns (EIR). Ontario executors must file provincial Estate Information Returns 180 calendar days after estate courts issue your certificate of appointment. Your duty is to comply with Ontario’s Estate Administration Tax Act. The government has a guide to…
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If you apply for probate in Ontario, you will file an application for a certificate of appointment. This post outlines steps to prove who can deal with a person’s estate. It is for information purposes only and does not explain your legal duties as the estate’s personal…
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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
416 769 - 9800