You find out you have been appointed as an Estate Trustee for the Estate of a family member or friend. Now you are looking for information about your role, your fiduciary duties, and the overall process. You have heard about Estate Administration Tax and want to know how it is calculated and who it is payable to.
Find out more about Estate Administration Tax at the Ontario Government, Ministry of the Attorney General website.
The link above is not legal advice. Please contact our office should you have specific questions about your role as Estate Trustee or about your Estate Planning.
Our real estate clients often ask us how much will they pay in Land Transfer Tax when buying a property. Ontario Land Transfer Tax depends on the purchase price of the property. Other contributing factors also include, but are not limited to, whether the property is located in Toronto, which results in a Municipal Land Transfer Tax, as well as whether the purchaser is a first time home buyer. For more information, and to calculate your Land Transfer Tax, browse the site linked here!
The link above is not legal advice. Please contact our office should you have specific questions about your real estate transaction.