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ARTICLE · 05 MAY 2016

Planning To Reduce Estate Administration Tax

When a person resident in Ontario dies and is the sole owner of property, generally a "probated" Will is required by the bank...

CanadaTax

When a person resident in Ontario dies and is the sole owner of property (like funds in a bank account, investments with a broker, or real estate), generally a "probated" Will is required by the bank, investment advisor or the land registry office before the deceased's property can be transferred. The probated Will is proof that this is the deceased's "last" Will and Testament and that the executor presenting the Will is the duly appointed personal representative of the deceased person.

While it is commonplace to talk about "probating" a Will, the process actually involves applying to the court for a Certificate of Appointment of Estate Trustee with a Will ("Certificate"). The application must be accompanied by an affidavit attesting to the fair market value of all property owned by the deceased at the time of death together with payment of estate administration tax (also referred to as "EAT" and formerly referred to as "probate fees") based on the value of the

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