There’s a cost if you don’t plan your estate

November 4, 2013 in Legal Advice Blog

Calculation of Estate Shrinkage

What is the cost of NOT planning your estate? Use this form to get a rough estimate of the costs your estate will incur when the time comes for a trustee to step in and establish what your estate is worth and how it will be distributed.  Click here for an example

This simple calculator makes 2 assumptions:

  • The deceased was either single or a widow/widower.
  • In the case of a widow/widower, at the time of their partner’s death, there was a tax-free rollover of assets to the survivor.
A. Income Tax Value Tax
RRSP / RRIF $_________ $_________
Non-registered capital assets $_________ $_________
Unreported interest income $_________ $_________
Unreported dividend income $_________ $_________
TOTAL $_________ $_________
B. Legal and Other Expenses
Funeral costs $_________ $_________
Court Fees $_________ $_________
Legal Fees $_________ $_________
Real estate commission $_________ $_________
Equity brokerage fees $_________ $_________
Trustee compensation $_________ $_________
TOTAL: A+B $_________ $_________

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