Your mother, who lives in Ontario, is reluctant to write a will. She is 78 years

ID: 3199353 • Letter: Y

Question

Your mother, who lives in Ontario, is reluctant to write a will. She is 78 years old and in failing health. Her major assets are her principal residence and a $100,000 unregistered portfolio containing stocks and bonds. Part A: Who decides how will her assets be distributed if she dies intestate? Part B: Is there any other document that your mother should have for estate planning purposes? Please explain its use. Part C: Will either of her two major assets be taxed upon her death: Taxation of principal residence at death? Taxation of unregistered portfolio at death?

Explanation / Answer

Part A: The government will decide how the assets will be distributed.

Part B: The documents of ownership of estate.

Part C: Both the assets will be taxed upon her death.

Navigate

Your mother, who lives in Ontario, is reluctant to write a will. She is 78 years

Your multinational corporation has net inflows (e.g. Accounts Receivable) of $1

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.

Your mother, who lives in Ontario, is reluctant to write a will. She is 78 years

Question

Explanation / Answer

Related Questions

Navigate