estate planning Archives

Filing a T1 Terminal Tax Return

A T1 Terminal Tax Return is to be filed upon a tax payer’s death. According to Canadian tax law, a taxpayer is deemed to have disposed of all of their property at the fair market […]

Canadians and US Estate Tax

Thousands of Canadians identify themselves as snowbirds who spend the cold winter months in the warm southern states. They may be surprised to find out that owning U.S. assets may be subject to US estate […]

Using an Estate Freeze to Limit Your Capital Gains

Upon death, a taxpayer is deemed to have sold of all of their property at fair market value thus resulting in a tax liability. This is known as a deemed disposition. Estate freeze is an estate […]

Probate Fees By Province

Probate is the legal process where will goes through provincial courts in order to get certified and validated. This process can be expensive but there are ways to avoid probate and minimize your estate tax bill. […]

Types of Power of Attorney

There are three main types of power of attorney. What exactly is a POA? A power of attorney document is an important estate planning tool. It gives an individual or perhaps more than one individual […]

Types of Estate Trusts

There are various types of estate trusts and one thing is for sure that using trusts is another way that you can reduce probate. Trusts are a great way to maintain control of assets during and after death. […]

Deemed Disposition on Death

At death, an individual is considered to have disposed of all of their property of value such as investment accounts, real estate, shares in a private company, cars and more! For property that has increased in value, an individual would be responsible to pay capital gains. […]

Tips on How to Avoid Probate

To determine if the will is legal and valid, it goes through a process known as probate. The will is sent to court and the courts will establish the true Last Will and Testament. Probate can help confirm the legitimacy of documents. […]