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Articles tagged with: estate planning

Feb01

Protecting Your Children's Inheritance When in a Second Marriage

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Second marriages are becoming more and more common in today’s society. In such marital situations, it is typical for the spouses to have their own children from a previous relationship. Although each spouse may want to ensure the surviving spouse is looked after upon one of their deaths, their more primary concern is usually ensuring that the majority of their assets pass to their own respective children. It is important that you understand your legal rights and options in relation to your spouse's estate when in such second marriage situations.

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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