Wills and Estate Fees
Estate Planning is the process of anticipating and arranging,during a person’s lifetime, the distribution of their estate.
Our estate planning team can offer expertise and different planning options
Wills and Power of Attorney Fees:
Simple Will - $200.00 plus HST*
Blended Family Will – $250.00 plus HST**
Secondary or Excluded Property Will - $200.00 plus HST***
Power of Attorney for Personal Care - $75.00 plus HST
Power of Attorney for Property - $75.00 plus HST
Power of Attorney – Exclusively for a business owner - $75.00 plus HST
Power of Attorney – Exclusively for a specific event - $75.00 plus HST
Trusts and incapacity issues (“Henson” Trusts)
*The need for an Insurance Trust, Spousal Trust, or Henson Trust may increase cost.
**This fee may vary. Blended families are increasingly common and each partner wants to ensure that when they die, their children, as well as their new partner, will be treated fairly and will receive as much financial support as possible. Estate planning to achieve these goals can be complex and this fee can only be estimated.
***This type of Will pertains to assets that will not be subject to Estate Administration Tax.
Also, a Will which appoints a trust company as Executor or alternate Executor may be charged at a higher fee due to the additional work involved.
Our Estate Administration staff can assist Executors with all post-death matters, including gathering of assets of the deceased, filing all necessary court documents, distributions to beneficiaries, and income tax returns.
Estate Administration Tax:
Under the Estate Administration Tax Act, 1998, the amount of tax payable to the Minister of Finance is $5.00 per thousand of assets up to $50,000.00, and $15.00 per thousand thereafter. The thousands are rounded up to the next nearest thousand.
Estate Administration Fees:
Determined in accordance with the suggested fee schedule for solicitors.
On the first $100,000 of the value of the estate 3% (minimum $1,000.00)
On the next $400,000 1.25%
On the next $500,000 .5%