A beneficiary abroad may be subject to their own inheritance taxes when they receive a legacy from Canada. They may wish to avoid double taxation and seek information about the amount of ‘inheritance taxes’ paid in Canada. It becomes necessary for the Ontario Estate Trustee to explain the different system. In Canada, there is tax …
In a civil law succession, the beneficiaries become the legal owners of the assets at the moment of death. In addition, they may also be responsible, in some circumstances, for all the liabilities. The details may vary between specific civil law jurisdictions. In some, a formal inventory of the assets and liabilities of the succession …
In the common law, this role has traditionally been called the ‘administrator’ or ‘executor’ of the estate, but for the past 20 years in Ontario we have used the term ‘Estate Trustee’. The Estate Trustee in Ontario generally has a broader role, with greater powers of sale etc., than that of a ‘liquidator of a …
Over the next few weeks, I will post on a number of topics intended to help someone living in a civil law jurisdiction with a possible interest in the estate of a deceased person who left assets in the Province of Ontario, Canada. The focus here is on average estates – low to mid-size value. …
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