We Do It Differently
Welcome to peace of mind. Estate planning in Nova Scotia is not something to be taken lightly and yet we make the process lightweight. It is often that we as lawyers are asked financial tax questions when helping our clients prepare their Wills and Estate Packages. Unfortunately, however, we are not accountants. That means we cannot advise on tax questions. That being said, we have designed a new advanced estate package which includes some of these additional tax advice related services.
- We consult with your tax accountant (or ours if you prefer)
- We consult with the Probate Court to classify your assets
- We consult with insurance and investment advisors, if necessary
Our Services In Advanced Estate Planning
Estate Planning Nova Scotia
Many clients with a high value estate (near or more than half a million dollars) request us to consider minimizing the taxes their estate will pay which will leave their heirs with more of the assets. They also ask us to find ways to minimize probate taxes, or avoid probate court outright. Our Halifax Wills and Estate lawyers will guide you through advanced estate planning in Nova Scotia, for all Nova Scotians.
To get started:
- We take an inventory of your assets and the approximate values of them including investments, GIC’s, pensions, RRSP’s, bank accounts and tax-free savings accounts.
What we do:
- When we talk to the accountants* --either yours or ours-- we will consider how to structure the title to the real estate you own to minimize probate fees and CRA taxes now and after you pass.
- We talk with the Probate Court who assists us to classify assets to determine which ones can be diverted away from probate and what instruments we need to set up (eg., deeds) to do so.
- You provide us with information on any life insurance policies you have and, if necessary, we will reach out to insurance brokers to provide you with insurance options and their costs that can reduce CRA taxes on the estate.
Advanced Estate Planning package fees:
- For couples whose estates are separate: $2500 per individual plus HST, the cost of the Will or estate package and disbursements.
- For couples who have their estate assets previously set up jointly: the cost for these couples is $3500 plus HST, the Will or estate package and disbursements.
*The cost of the accountant’s time is a separate cost. The client pays the accountant’s fees directly to the accountant.
The cost of any deeds, if necessary, is $560 per deed, tax and disbursements included.
Our estate package for a couple is $945 +HST and a single person is $645 +HST. The cost of separate estate documents, such as Wills, power of attorney, and personal directives can be found on our Wills & Estate page.
I recently had my will updated along with my power of attorney and a medical directive.
The process was very simple as I set up a phone consultation with my lawyer, Dan Wilbond, whereby we discussed the details of each document. From there, I met with Dan a week later at his office, reviewed the finished documents, made a few changes and signed off within an hour.
I highly recommend them and would not hesitate to use them in the future.
We were very pleased with the quick, friendly and professional service we received while getting our will and estate in order.
We had an appointment with Lisa to get the estate package for my parents. Lisa was very professional knowledgeable, and helpful. She explained all the details in simple words to ensure we understand everything, answered all my questions. I'm really appreciate her help.