{"id":84,"date":"2025-04-16T19:21:44","date_gmt":"2025-04-16T19:21:44","guid":{"rendered":"https:\/\/www.ppslawonline.ca\/blog\/?p=84"},"modified":"2025-04-16T19:21:44","modified_gmt":"2025-04-16T19:21:44","slug":"avoid-probate-or-estate-administration-tax-in-ontario","status":"publish","type":"post","link":"https:\/\/www.ppslawonline.ca\/blog\/avoid-probate-or-estate-administration-tax-in-ontario\/","title":{"rendered":"Avoid Probate or Estate administration tax in Ontario"},"content":{"rendered":"<p>Probate is a court\u2019s formal approval of a Will as the last and valid will or testament of a deceased person confirming and certifying the person appointed as a trustee. The court, upon on application will issue a Certificate of Appointment of Estate Trustee. The estate trustee will have the legal authority to deal with the estate.<\/p>\n<p>All assets of the estate are subjected to probate or estate administration tax, currently taxed at 1.5% of the total value of the estate assets exceeding $50,000. An estate with a house, any other real estate asset or other asset valued to be at least $1 million will be subjected to an estate administration tax of $14,250. There are smart strategies to avoid this.<\/p>\n<ol>\n<li>Designating a beneficiary in your insurance policies and all your registered accounts.<\/li>\n<li>Holding your registered or non-registered accounts jointly with your spouse or a reliable person whom you wish to receive the benefits\/ funds after your passing.<\/li>\n<li>Holding assets in cash only or bearer certificates.<\/li>\n<li>Executing gift transfers while you are alive. This may have tax consequences.<\/li>\n<li>Creating trusts for minors, suitable adults, disabled persons or other dependants.<\/li>\n<li>Executing two wills.<\/li>\n<li>Transferring the title to your home or other real property to both yours and your spouse in joint tenancy with the right of survivorship.<\/li>\n<\/ol>\n<p><strong>How can PPS LAW PROFESSIONAL CORPORATION help you?<\/strong><\/p>\n<p>If you require further assistance in the above matter, please contact us. We are Immigrant-founded, multilingual and accommodating to cater the needs of all walks of life including the working-class community. As experienced professionals, we have been successfully assisting clients in this matter to their satisfaction. Contact us today.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Probate is a court\u2019s formal approval of a Will as the last and valid will or testament of a deceased person confirming and certifying the person appointed as a trustee. The court, upon on application will issue a Certificate of Appointment of Estate Trustee. The estate trustee will have the legal authority to deal with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":85,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[49],"class_list":["post-84","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-will-powers-of-attorney","tag-avoid-probate-or-estate-administration-tax-in-ontario"],"_links":{"self":[{"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/posts\/84","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/comments?post=84"}],"version-history":[{"count":1,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/posts\/84\/revisions"}],"predecessor-version":[{"id":86,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/posts\/84\/revisions\/86"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/media\/85"}],"wp:attachment":[{"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/media?parent=84"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/categories?post=84"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ppslawonline.ca\/blog\/wp-json\/wp\/v2\/tags?post=84"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}