Valuation of Assets
When applying for a Certificate of Appointment of Estate Trustee (also known as probate and hereafter referred to as a “Certificate”), it is necessary to pay estate administration tax on the value of assets passing through the estate. In order to calculate the amount of tax payable, a valuation of the estate’s assets as of […]
Alter Ego Trusts
Alter Ego Trusts, which were established in 1999, are a tax and estate planning tool which allows an individual to transfer assets outside of their estate while still enjoying their assets during their lifetime and many other benefits. The main requirements are that the person who gifts the assets or property to the trust (“the […]
Assets You Cannot Gift At Will
There are several types of assets that you may acquire during your lifetime but that you cannot gift to anyone in a Will. This may be because there is a contract, law or professional regulation that prevents you from doing so. For example, I recently had a client who owned a condominium unit that was […]
Charitable Donations In Your Will
Did you know that you have more options than just leaving portions of your Estate to people? You may actually consider leaving a legacy to a named charity which, by legal requirement, will have one or more of the following charitable purposes: the advancement of religion, the advancement of education, relief of poverty or public […]