Estate planning in Burlington
Burlington has one of the older populations in the Greater Toronto Area, which means more of the conversations here start with a plan that already exists and has not been looked at in fifteen years.
What an estate in Burlington is usually made of
The common Burlington file is not an empty one. It is a will from a previous decade, life insurance bought for a mortgage that has since been paid off, and beneficiary designations naming someone who is no longer in the picture. Most of the work is subtraction.
The office is in Mississauga, at 45 Kingsbridge Garden Circle, Suite 609, and the practice is licensed across Ontario. There is no branch office anywhere else and this page does not pretend otherwise: meetings happen at your table, on the phone or on video, and the number is (416) 937-0347 wherever you are.
Call (416) 937-0347
What probate would cost on a $1,400,000 estate here
Ontario charges estate administration tax at nothing on the first $50,000 and $15 on every $1,000, or part of $1,000, above it. Take $1,400,000, which in Burlington is often a house, a RRIF and a small non-registered account.
$20,250 is payable before the estate is distributed, not out of it. When most of an estate is tied up in one asset, and here it usually is, that is money the family has to find before anything can be shared out. Making sure it is there is most of what the planning does.
- The estate$1,400,000
- Less the first $50,000, which is not taxed$1,350,000
- Divided into thousands, rounding a part up1,350
- At $15 each$20,250
Where that usually starts in Burlington
Asked in Burlington
My will is from 2009. Is it still valid?
Almost certainly valid, and quite possibly wrong. A will does not expire, but it also does not know about a marriage, a separation, a grandchild, a property sale or a business that has happened since. The review is short and it is the smallest piece of work on this page: often the will itself is fine and only the beneficiary designations around it need correcting.
Where is a Burlington estate probated?
In Milton, which is Halton Region's seat for the Superior Court of Justice. Burlington, Oakville and Milton all file in the same place, and it is not the closest courthouse to any of them by road.
Ehsan Khandaker is a licensed financial and estate planner, CLU and CHS. He is not a lawyer and does not draft documents. This page is general information about Ontario rules, not guidance about your own situation, and a will is drawn up by a lawyer.
Every area he works inThe first conversation is twenty minutes, and it costs nothing wherever in Ontario you are.