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Taking Care of Business Executor Workbook – 2nd Edition

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click to enlarge

At this time of year many of us turn our thoughts to holiday preparation. What will the menu be, how will I find the time to do all the shopping and how can we juggle our time to visit among various families? Then before we know it, all the preparations and festivities are over. Between Christmas and the New Year many of us take time to reflect on the holiday season and put thought into getting more organized for the coming year. In preparation for that reflective time, I am thrilled to announce the launch of the 2nd edition of Taking Care of Business – Executor’s Workbook! Read more

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Snowbirds – What Happens if you Die Away from Home?

Travel Protection Insurance Plan

Snowbirds, have you stopped to consider what happens if you die away from home? This is not a very pleasant topic to think about, but it does happen. How would your family deal with this? If you have not made your funeral arrangements in advance including the Safe Return Travel Assistance coverage, then your family will have a lot of work to do to get you home. Read more

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Snowbird Traveler’s Check List – 15 Things to Consider

secure return travel assurance plan Are you a snowbird? How wonderful it is to be able to travel south to warmer weather over the winter. Before you fly or drive away, peruse the checklist of 15 items below to be sure you have your health and hearth protected. Read more

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Process for Assessing & Collecting Ontario Estate Administration Tax

Ontario Estate Administration Tax

In the 2011 Ontario budget, the Ontario government indicated that they would tighten the probate filing rules to enhance compliance by transferring administration of the Estate Administration Tax from the Ministry of the Attorney General to the Ministry of Revenue and Finance. This change received royal assent in 2011 and was announced in force January 1st, 2015. Effective January 1st, 2015, the Ministry of Finance now has a more defined process for assessing and collecting the Estate Administration Tax (EAT). Read more

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Ontario Estate Administration Tax Filing Rules

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In our last blog we spoke about Ontario Probate becoming the Estate Administration Tax, the Certificate of Appointment of Estate Trustee and the importance of this certificate to confirm the appointment of an Estate Trustee. This certificate authorizes the Estate Trustee to work on behalf of the deceased and start the process of closing the estate. Further to this, effective January 1, 2015, the Ontario Ministry of Finance implemented new Estate Filing Rules for people acting as an Estate Trustee in Ontario, for estates valued at greater than $1,000.00. Read more

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Ontario Probate Fees Become the Estate Administration Tax

Ontario Estate Administration Tax

Did you know that in Ontario, probate fees on an estate have been replaced with something called the Estate Administration Tax?  In this multi-part series on the new Estate Administration Tax, I will share information that you and your estate representative will need to know.  This blog post focuses on what are considered the deceased’s assets and the Estate Administration Tax (EAT) payable on these assets. Read more

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Pre-paid Funeral Plan – Will I Get What I Paid For?

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During a recent presentation to a Lions Club a lady asked me “How do I know that the prepaid funeral will actually give me what I paid for – not something cheaper in the end?” When people have the courage to preplan and prepay their eventual funeral arrangements, they enter into a contract with the Funeral Home and a licensed Funeral Director. The binding legislation for the profession is the Funeral, Burial and Cremation Services Act. In this legislation, it is mandated that every funeral home must have a current price list, and all goods and services must be itemized on the prepaid funeral contract – exactly as these items are listed in the price list. Additionally the Ontario Board of Funeral Services has outlined how all prepaid funeral contracts must be organized. Read more

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Disabled Beneficiaries – Would a Henson Trust Benefit your Situation?

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Many Canadians are aware of the importance of having a valid will and powers of attorney document, yet, the importance of these documents is vastly underestimated in the special needs arena. Careful estate planning is necessary if persons with disabilities are to become beneficiaries of an estate. Individuals who live in Ontario should consider taking advantage of the Henson Trust when planning for their beneficiaries, who are recipients of ODSP benefits. Read more

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What to do Next When a Loved One Dies in Hospital

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I have had this question from a few people who have attended my seminars… “If my loved one dies in the hospital – what do I do next?”  The answer is – Your first call is to the Funeral Home.

The Funeral Home will ask you some initial questions and fill out what is called a First Call Sheet. The information needed will be: Read more

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Cremation – What is the cost of a Funeral Anyway?

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What is the cost of a funeral anyway? is a question I am often asked. The answer is that it depends on the type of funeral or celebration of life you wish to setup and prepay. For example, there is a growing trend to select cremation as the choice of disposition, so I will discuss this option in this blog post. The cost of cremation depends on the crematorium that the funeral home uses and can range from approximately $450.00 to $650.00 or more. Additionally with cremation there are 2 mandatory disbursements: Read more