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Pitfalls of reducing probate fees with joint ownership

Thursday, March 16, 2017 @ 8:00 PM | By Mary Wahbi

Although probate of a deceased’s will isn’t mandatory, it is often required by financial institutions and government agencies as judicial confirmation that the will is valid and that the executor is authorized to act in the estate.

When a will is submitted to the court for probate, estate administration tax (the probate fee) is charged in Ontario at approximately 1.5 per cent of the gross value of the estate.

This has resulted in a focus on probate fee reduction strategies by estate planning lawyers and their...