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.
A will is a legally binding document that gives instructions on who receives your assets and when, who will look after any dependent children and it also names someone to carry out your wishes and administer your estate.
While Ontario does not have a specific “inheritance tax,” the government collects taxes through capital gains, final income tax returns, and estate administration fees.
Minimize probate tax in Ontario with smart estate planning. Use trusts, life insurance, and gifting strategies to reduce taxes and maximize your legacy.
The final tax return, or Terminal Return, reports all income up to death. Executors file it to settle taxes before estate distribution. Plan ahead to reduce taxes.
Yes, you can write your own will in Ontario, but mistakes can make it invalid. Ensure it’s legally sound with proper signatures or seek professional advice.
Find out how much a will costs in Ontario—DIY vs. lawyer fees—and why professional guidance can safeguard your estate’s future. Secure your final wishes!
In Canada, there’s no gift tax, but property gifts can trigger capital gains. Discover how to give generously while minimizing taxes.
Capital gains tax, probate fees, and final income taxes can take a significant portion of your wealth if you don’t plan ahead. Understanding how these taxes work—and how to minimize them—can help ensure your family inherits more and pays less.
Deciding whether to gift or inherit property in Canada hinges on tax, family dynamics & long-term planning. Discover strategies to minimize your tax burden.
Gifting a home to your kids in Canada isn’t tax-free. Learn how capital gains tax, the Principal Residence Exemption, and estate planning can impact the transfer.
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
