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ESTATE LAW - Frequently Asked Questions

How do taxes impact on my Will?

In the Province of Ontario there are no succession duty or gift taxes. However, when a person dies the estate will have to concern itself with income and capital gains tax. Often though, these taxes can be kept to a minimum or deferred by using arrangements permitted by the Income Tax Act and a skilfully drawn Will. Be certain to retain a lawyer for this issue.

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This information is a brief summary for information purposes only and is applicable only in the Province of Ontario. It is not intended to be legal advice. Full and complete legal advice can only be given by a lawyer who has detailed information about your individual circumstances.