Estate Administration

Although Ontario does not impose estate or death taxes, in certain circumstances, when an individual passes away, the assets of the Estate may be subject to an Estate Administration Tax (also known as “Probate”). Probate is the process wherein the Will is validated by the Court and a Certificate of Appointment of Estate Trustee (with or without) a Will is issued. As part of the process, the estate must be valued and estate administration fees must be paid to the Minister of Finance.

In January of 2015, the Ministry of Finance created the Estate Information Return which must be filed by all individuals who have received a Certificate of Appointment of Estate Trustee (with or without) a Will after January 1, 2015. There are certain exceptions to this general rule; however, typically, an Estate Information Return is due within 180 days from the date of the issuance of the Certificate of Appointment of Estate Trustee (with or without) a Will.

With proper planning, estate administration fees can be minimized or avoided all together thereby negating the requirement to file an Estate Information Return; however, this will depend on your circumstances and wishes. Law In Motion Professional Corporation is familiar with estate matters and will work with you and your accountants to ensure that your estate is structured in the most advantageous way for yourself and your heirs and can also provide assistance throughout the process.