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Articles tagged with: estate planning

Apr10

Passing on the Family Business: Estate and Tax Planning Strategies

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A family owned business would typically involve the parent or parents owning and operating the business, as well as the children or other family members possibly offering a helping hand. The parents may want the next generation to continue the business after the parents' deaths. There are many estate and tax planning strategies to consider when contemplating and executing the succession of a private, family-held business.

Mar15

Estate Planning Strategies to Minimize Ontario Estate Administration Tax

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Ontario estate administration tax (formerly "probate fees") is a tax imposed on the estate of a deceased person, and is paid in order to receive a court order, which under present Ontario court rules is called a “certificate of appointment of estate trustee with a will” (formerly a “grant of letters probate”). This court order certifies that the will of a deceased person is valid and also confirms that the person(s) named as executor(s) in the will of the deceased person has the legal authority to administer the estate. Recent legislation has also imposed a more rigorous reporting regime on anyone applying for and receiving a certificate of appointment of estate trustee, which includes rules regarding complex asset valuations and substantiating the reported asset values.

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