Who Pays Probate Fees in Ontario?
Probate fees, also known as the Estate Administration Tax, are a cost associated with validating a will and administering an estate in Ontario.
January 28, 2025
Probate fees, also known as the Estate Administration Tax, are a cost associated with validating a will and administering an estate in Ontario.
Probate is the legal process of validating a will and distributing assets according to a person’s wishes.
Inheritance rules in Canada can be complex, but the good news is that most inheritances are tax-free.
Probate is based on the fair market value of all assets within the deceased’s estate that require probate to be distributed.
If you own multiple properties, such as vacation homes or rental properties, a living trust can simplify management and transfer. It also keeps your estate private, as trusts do not go through probate, unlike wills. This can save time and reduce stress for your family.
When you inherit a house in Ontario, ownership is transferred to you according to the deceased’s will or estate plan.
The most effective way to minimize estate taxes in Ontario is through proper estate planning.
Personalized advice ensures your plan complies with Ontario laws and meets your long-term objectives.
An irrevocable trust offers advantages like asset protection, reduced taxes, and avoiding probate.
Placing your house in a trust offers several benefits, including avoiding probate fees, maintaining privacy, and ensuring a smooth transfer to beneficiaries.
SWPP helps families and business owners in Ontario with comprehensive estate planning.
SWPP’s Living Estate Plan service ensures Ontario families have an estate plan or living trust that protects their assets from unnecessary taxes and fees, including probate.
16 Industrial Parkway South, Suite 609, Aurora, ON, L4G-0R4