All about Probate . . .
Important Probate Update:
Ontario’s Bill 173 has been quietly pushed through the House recently and will come into effect on January 1, 2013.
Some of the new provisions include providing the Minister of Finance prescribed information about the deceased and his/her assets, a four year assessment or re-assessment period and a fine of $1000 or twice the tax payable and/or imprisonment for up to two years, if the estate representative (Executor) misrepresents information or asset values to the Minister.
This new legislation will undoubtedly make it more costly, more time consuming and result in more liability for the Executor.
To read the September/October 2011 edition of
Silver & Gold Magazine
To learn more about Segregated Funds . . .
Ontario Attorney General
Do you have questions about your Estate?
e-mail Leony your query . . .
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