Wealthprofessional.ca quotes Toronto lawyers, Corina Weigl, Emily Hubling and Jennifer Campbell, in an article on Ontario’s proposed reforms.
Ontario-based financial planners may also be interested in another set of proposed reforms included within the budget that would impact the administration of estates within the province. “The 2019 Budget includes proposed changes to the Estates Administration Tax Act, 1998, and an associated Regulation, to be effective January 1, 2020,” wrote Corina Weigl, Emily Hubling, and Jennifer Campbell of Canadian law firm Fasken.
“The 2019 Budget proposes to eliminate the payment of Probate Fees on the first $50,000 of value of an estate,” the experts from Fasken said.
