Numbers Speak for themselves!
Last night we had an excellent turn-out to our information session about the newly implemented Estate Administration Tax. It became apparent that people in our communities have some valid questions on how best to prepare their affairs. We must thank Cheryl Masson (Little, Masson and Reid), Michael Scott (Ford Keast), and Terry Genttner (Edward Jones) for their presentations and answering so many questions.
We are happy to provide you with the handout information from our session if you simply completing the form below.
EAT Information Session – Tuesday, October 13, 2015
Recently, we have received several questions about the recently administered EAT, which came into effect January 1, 2015.
The one thing most people are not completely aware of is that the level of estate taxation has not changed significantly, and the EAT is simply a new name for probate, which has been around for a number of years.
There is, HOWEVER, a significant change in Estate Trustee (Executor) responsibilities with regard to administration and timelines.
It became evident at the Ontario Funeral Service Association’s Annual General Meeting this week, that is very unlikely that there will be any changes or revocation of the Estate Administrative Tax in the immediate future.
As mentioned previously, there are some significant changes to timelines associated with settling the estate of someone who has passed away. These are timelines that anyone who is an Estate Trustee, or may become an Estate Trustee in the near future need to be aware of. It is also important, because of these timelines, that anyone planning their final wishes be aware of these timelines and have their affairs organized and streamlined as much as possible in advance.
With all of this in mind, we have planned an ESTATE ADMINISTRATIVE TAX INFORMATION NIGHT, which will be held at the Lucan Community Centre, 263 Main Street, Lucan on TUESDAY, OCTOBER 13th at 7:00 pm.
For those looking for more information, I would suggest you visit:www.fin.gov.on.ca/en/tax/eat
For those who would like to sign a local petition to amend or revoke the EAT, visit: http://montemcnaughtonmpp.ca/…/20…/01/Death-Tax-Petition.pdf