tag:blogger.com,1999:blog-436024129575354145.post5852549242870484616..comments2024-03-28T12:41:21.857-07:00Comments on Estate Law Canada: Does Canada have death taxes or inheritance taxes?Lynne Butler, BA LLBhttp://www.blogger.com/profile/09790353197833765108noreply@blogger.comBlogger232125tag:blogger.com,1999:blog-436024129575354145.post-7004243428186523532016-08-25T14:06:48.078-07:002016-08-25T14:06:48.078-07:00A big like for this article.A big like for this article.Inchirieri auto Bucurestihttp://www.rent-a-car-otopeni.ronoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-771884471185861212016-07-23T19:08:19.574-07:002016-07-23T19:08:19.574-07:00Thank you for your very informative blog. It has c...Thank you for your very informative blog. It has come to my attention recently that I was not put on the title/deed of my fathers condo after the death of my mother. I was told by the lawyer who is preparing the estate that I was not put on the deed because I do not live in Ontario/Canada. It does not make sense to me and would it not complicate the transaction after the death of my father? WouldAnonymoushttps://www.blogger.com/profile/13001014144392263035noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-82590824820999838222016-06-14T11:27:03.288-07:002016-06-14T11:27:03.288-07:00I do not live in the same province my deceased par...I do not live in the same province my deceased parent did (BC). <br /><br />As a result, we had to pay approximately $65,000 to the BC government in probate fees. <br /><br />Had this same parent died in Alberta instead of BC, the maximum probate fee would have been $467.<br /><br />Not only that, but in BC you have to hire three lawyers, whereas in Alberta you can hire one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-77538015980339836522016-02-07T07:27:03.289-08:002016-02-07T07:27:03.289-08:00Hello. I would like to know if there is a limit to...Hello. I would like to know if there is a limit to how many times an executor can charge 2.5% for Capital Receipts and Disbursements in the case of beneficiaries of multiple estates (ie: Uncle, Mother and Father all deceased within 2 years of each other; all used the same executor). Every time capital is moved from one estate account to another, multiple charges on what is essentially the same Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-37475525816263956292016-01-20T03:27:54.086-08:002016-01-20T03:27:54.086-08:00i like your post and your post is so informative. ...i like your post and your post is so informative. but can you provide <a href="http://www.primetaxsol.ca/services/personal-taxes/" rel="nofollow">Personal Tax returns</a>Awais Ahmedhttps://www.blogger.com/profile/03163133895615399478noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-23320694805631066052015-12-04T07:30:26.926-08:002015-12-04T07:30:26.926-08:00Great blog your estate would pay those taxes, even...Great blog your estate would pay those taxes, even though the person named as the beneficiary of your RRSP or RRIF is not your estate.Thanks for sharing.......<br /><br /><a href="http://shazaniq.co.uk/fast-growth-businesses/" rel="nofollow">Get Fast Growth Business Consultancy</a> | <a href="http://shazaniq.co.uk/fast-growth-businesses/" rel="nofollow">Fast Growth Business and Problems Solution shazaniqhttps://www.blogger.com/profile/06651133193051264875noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-30918291251466275422015-09-24T15:34:08.511-07:002015-09-24T15:34:08.511-07:00I have 2 issues. One I am a beneficiary to a pre-...I have 2 issues. One I am a beneficiary to a pre-death pension fund to be shared with a sibling. The cheque has been made out to the estate . 30% withholding tax has been already paid out. As a beneficiary is the remaining amount considered income or taxable by the myself or the other sibling? My other question is I am a co-administrator held jointly with my sibling to the estate. My siblingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-44493049334705351932015-08-08T12:43:12.850-07:002015-08-08T12:43:12.850-07:00our estate holds a family cabin and the wills esta...our estate holds a family cabin and the wills establish a trust saying trustee can lease for any term under any condition that my trustee considers reasonble; further, the trustee can maintain and spend money out of the lease income or the capital of the estate. Does this mean the cabin need not be sold but continue to be held in the trust and used by the members of this trust?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-80432937570419656522015-04-20T04:46:01.605-07:002015-04-20T04:46:01.605-07:00Hi Lynn,
Here is an odd situation which I have in...Hi Lynn,<br /><br />Here is an odd situation which I have in reporting on the tax declaration. Could you suggest how to report (if necessary) this situation.<br /><br />My wife has been given some farm land in India during 2014 by her mother. When I say "given" it is not a gift. In the particular part of India, there is a kind of 'deferred irrevocable will' , called "Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-51033078423073475912015-03-26T18:10:23.928-07:002015-03-26T18:10:23.928-07:00Hello,
My grandmother has passed away recently, an...Hello,<br />My grandmother has passed away recently, and my mother, aunt and uncle are all heirs of the estate (1/3 each equally).<br />My mother is wondering if she can transfer or renounce her portion of the inheritance to myself (daughter).<br />We were thinking the possibility of her renouncing herself as a heir but my aunt and uncle need to buy her share out of the house, and need to extractAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-56897671165219455652015-03-01T16:51:45.026-08:002015-03-01T16:51:45.026-08:00I received $20 thousand as an inherentance. When i...I received $20 thousand as an inherentance. When it came to tax time the government said I owed $10000 in taxes because the money I received put me in a different tax bracket. Is there any way around this?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-13146745410881672382015-02-10T19:14:44.511-08:002015-02-10T19:14:44.511-08:00I have POA for my mom and I am Executor. Does thi...I have POA for my mom and I am Executor. Does this make the list of things to do as executor any simpler?Jeannoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-75332090287564474452015-01-12T09:00:19.202-08:002015-01-12T09:00:19.202-08:00I am a Canadian who has lived abroad for many year...I am a Canadian who has lived abroad for many years. I have a house but little wealth apart from that. As of August 17th, 2015, I will be able to choose whether Canadian law or the law of the country I am living in is uded to process my will. When I die, I would like the <br />proceeds of the sale of my house to go to my niece and nephews in Canada - and I assume the more advantageous route wouldAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-58825203241255704912014-10-14T14:57:12.955-07:002014-10-14T14:57:12.955-07:00Hi, thanks for the great blog!
If I inherit money...Hi, thanks for the great blog!<br /><br />If I inherit money from my parent does my married spouse have claim on it?<br /><br />We've been together here in Canada 16 years, and married for 4.<br /><br />Thanks again!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-29427902829315720842014-08-25T14:03:33.063-07:002014-08-25T14:03:33.063-07:00Hello Lynne
I am the executor of my mother's e...Hello Lynne<br />I am the executor of my mother's estate and I seemed to have screwed it up. I was caregiver of my mom for 10 years up until her passing away Sept 2012. She was a Canadian citizen and resident of Alberta. I am her executor. Prior to her passing I was her power of attorney and handled her finances and therefore understood her estate in detail. Upon her passing I gave out Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-59102247467677804482014-08-20T09:00:58.986-07:002014-08-20T09:00:58.986-07:00I am a Canadian but residing out of Canada. My he...I am a Canadian but residing out of Canada. My heirs are also Canadians and non-residents. I have some financial assets in Canada. If I pass away do my heirs pay an inheritance tax on these financial assets?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-55152702042774268252014-08-10T11:19:27.136-07:002014-08-10T11:19:27.136-07:00Hi, my father has a savings account, non-registere...Hi, my father has a savings account, non-registered. When he passes away, what is the tax on this money? I understand the children will inherit what is left after taxes are paid. We want to figure out how much we will inherit. He already payed income tax for this money which are savings from his salaries over the years. Thank youAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-60271850333792212192014-08-04T07:05:50.531-07:002014-08-04T07:05:50.531-07:00Hi,
I was just wondering how long the entire proc...Hi,<br /><br />I was just wondering how long the entire process would take for an intestate? The deceased has a cash only estate with no creditors.<br /><br />Kind regards,<br /><br />M.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-7775672950794753272014-07-23T09:30:10.504-07:002014-07-23T09:30:10.504-07:00This is a good topic that you brought up. Taxes ar...This is a good topic that you brought up. Taxes are meant to be discussed no matter what type/kind of tax it is. Good to hear these suggestions and opinions.Tax Lawyer Torontohttp://www.nationaltaxgroup.ca/noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-17526921307344288282014-07-01T09:09:37.478-07:002014-07-01T09:09:37.478-07:00The same financial institution. Can those stocks i...The same financial institution. Can those stocks inside the rrsp be transfered to another self directed account that is not an rrsp, or do all the stocks inside <a href="http://greenwayandassociates.synthasite.com/" rel="nofollow">bookkeeping ontario</a> my dads rrsp account have to sold off then taxes paid then the remaining split.<br />kingtheodenhttps://www.blogger.com/profile/07042492769586315561noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-12502830321717189772014-07-01T09:04:16.829-07:002014-07-01T09:04:16.829-07:00I inherited a substantial sum of money due to his ...I inherited a substantial sum of money due to his insurance policies, ie private insurance, work insurance and his cumuted value of his pension. What do you think about <a href="http://greenwayandassociates.synthasite.com/" rel="nofollow">business tax ontario</a> we own two properties. One being a house as main residence and the other a condo that we are renting out to my parents.kingtheodenhttps://www.blogger.com/profile/07042492769586315561noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-29372323117134177312014-07-01T06:56:05.223-07:002014-07-01T06:56:05.223-07:00Great post! Been reading a lot about probate law. ...Great post! Been reading a lot about probate law. Thanks for the info here!Probate Lawhttp://www.tanefflaw.comnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-4081832742229031392014-05-28T06:03:42.247-07:002014-05-28T06:03:42.247-07:00can revenue canada take inheritance money to pay a...can revenue canada take inheritance money to pay an outstanding personal tax debt?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-8920480758417467622014-05-26T06:09:56.925-07:002014-05-26T06:09:56.925-07:00I inherited a substantial sum of money due to his ...I inherited a substantial sum of money due to his insurance policies, ie private insurance, work insurance and his cumuted value of his pension. What do you think about <a href="http://www.greenwayandassociates.synthasite.com" rel="nofollow">business tax ontario</a> we own two properties. One being a house as main residence and the other a condo that we are renting out to my parents.Anonymoushttps://www.blogger.com/profile/03222178078233202226noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-41735557742273031972014-04-10T08:17:18.832-07:002014-04-10T08:17:18.832-07:00Hello Lynn,
Just to make sure I've understood...Hello Lynn,<br /><br />Just to make sure I've understood properly and that nothing has changed over the past few years. My parents have a house that is completely paid for. If they leave the house to their three children, are we subject to inheritance tax in Ontario? If so...how much? <br />Anonymousnoreply@blogger.com