Thanks. An estate lawyer will likely charge a married couple with a fairly simple estate situation between $1500 - $2500 for professionally-drafted wills and powers of attorney (property and health). An accountant preparing annual tax returns can run between $350-$750 per couple for a fairly straightforward tax situation. Ultimately, the factors that push the costs to the higher end of this range and above is a) complexity of the clients' situation and b) specialization and experience of the lawyer/tax preparer.
Since Canada is one of the very few countries in the world with no gift tax the idea is to give most of your money to your heirs before you die. That's what my father did and his father did and my great grandfather did. Capital gains were tax free when my grandfather and great grandfather died.
Isn’t it ridiculous that we have to squabble with the government over our net earnings after the taxes have been paid ? Give unto Caesar what is Caesar’s I guess.
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Very helpful… thank you
Excellent video!
Great video!
Can you please give us an estimate of the cost the accountant and lawyer would charge?
Thanks. An estate lawyer will likely charge a married couple with a fairly simple estate situation between $1500 - $2500 for professionally-drafted wills and powers of attorney (property and health). An accountant preparing annual tax returns can run between $350-$750 per couple for a fairly straightforward tax situation. Ultimately, the factors that push the costs to the higher end of this range and above is a) complexity of the clients' situation and b) specialization and experience of the lawyer/tax preparer.
Since Canada is one of the very few countries in the world with no gift tax the idea is to give most of your money to your heirs before you die. That's what my father did and his father did and my great grandfather did. Capital gains were tax free when my grandfather and great grandfather died.
Isn’t it ridiculous that we have to squabble with the government over our net earnings after the taxes have been paid ?
Give unto Caesar what is Caesar’s I guess.
Yes, it's very frustrating. Thanks for watching!