Probate Tax

Total 35 Posts

Joint tenancy: a cost-effective or costly measure to save on probate fees?

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This blog has been written by Mohena Singh, Associate at Fasken LLP As an estate planner, one of the most common questions I am asked is, “How do I transfer my house or cottage to my family without paying estate administration tax?” A common way we have seen individuals attempt to accomplish their goal of transferring real property without paying estate administration tax (also known as “probate fees”) is by….

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Estate Administration, Estate Planning, Joint Tenancy, Probate Tax, Real Estate, Wills

Considerations when Administering a Canadian Estate with US Situs Assets

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Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP. As today’s world continues to grow increasingly interconnected, more estate professionals find themselves dealing with a web of cross-border assets and jurisdictional issues.  This post considers certain issues that you might face when administering a Canadian estate with assets situated in the United States. Legal Authority You must first determine whether you will need legal authority to….

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Canadian and US Tax Treaty, Estate Administration, International, IRS, Probate Tax, Tax Issues, United States, US Taxes, Wills

Assessing Drake’s Estate Planning Needs

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As a Toronto native, I couldn’t help but listen to rapper Drake’s highly-anticipated new album Certified Lover Boy, which he released just a few weeks ago. In fact, it has been enjoying record-breaking streaming numbers from music fans around the world, amassing a staggering 153 million global Spotify streams in its first 24 hours of release. Drake and his music are clearly influential on a global level. Drake’s songs have….

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Estate Administration, Estate Planning, In the News, International, Probate Tax, Property, Real Estate, Succession Planning, Tax Issues, Wills

Joint accounts – continued

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Several years ago, I wrote about probate planning involving the use of joint accounts. At the time, my father-in-law had just passed away and my mother-in-law, who survived him, was intent on paying the least amount of Estate Administration Tax (EAT). Jointly held property with a spouse or with one or more children, with a right of survivorship may not form part of the deceased’s estate and may be effective….

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Estate Administration and Probate Applications, Estate Planning, Executors, Family Conflict, Investments, Joint Tenancy, Probate Tax, Trustee, Trusts, Uncategorized, Wills

The Mysteries of Probate, Revealed

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Of all the questions I am asked about the administration of estates, the ones that come up the most frequently are: “what is probate?”; “how do I know if I need probate?”; and “what’s involved in applying for probate?” Herein – the answers…..

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Practice Management, Probate Tax, Succession Planning
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