Estate Planning

Your Legacy Deserves a Plan

Estate planning is one of the most meaningful conversations in wealth management — and one of the most frequently deferred. The discomfort of contemplating death often leads families to leave critical decisions unaddressed. The consequences can be significant: unnecessary taxes, family conflict, assets not reaching intended beneficiaries, or an estate that bears little resemblance to what was intended.

As a Trust and Estate Practitioner (TEP), Colin Reid brings specialist-level expertise to estate planning. We help clients build clear, well-structured estate plans that preserve wealth, minimize tax, and create an enduring legacy.

The Tax Reality at Death

In Canada, there is no estate or inheritance tax — but there is a deemed disposition. At death, the CRA treats most assets as if they were sold at fair market value. For clients with significant investment portfolios, real estate, or corporate holdings, this can trigger a very large tax bill. Good estate planning anticipates and mitigates this exposure long before it materializes.

Probate Planning

In Ontario, estates over $50,000 are subject to the Estate Administration Tax — commonly known as probate fees — at a rate of 1.5% on the value of estate assets above that threshold. On a $2 million estate, that translates to roughly $29,250 in probate fees alone, before any income tax owing on the deemed disposition.

Probate fees are largely avoidable with thoughtful planning. We help clients reduce or eliminate exposure through strategies including multiple wills (a primary will and a secondary will for assets that don’t require probate, such as private company shares), beneficiary designations on registered accounts and insurance, joint ownership where appropriate, alter-ego and joint partner trusts for clients over 65, and other targeted structures. The right combination depends on your specific assets, family situation, and estate goals.

Beyond the cost savings, probate avoidance can also speed up the distribution of your estate, preserve privacy (probated wills become part of the public record), and reduce the administrative burden on your executor during an already difficult time.

Wills, Trusts, and Beneficiary Coordination

We work alongside your legal counsel to ensure your estate planning documents reflect your intentions, your tax situation, and your family dynamics. We review beneficiary designations across registered accounts and insurance policies — one of the most commonly overlooked areas where estates go wrong — and ensure everything is coordinated.

Multi-Generational Wealth Transfer

For families with significant wealth, estate planning extends beyond the will to encompass spousal trusts, testamentary trusts, family trusts, and gifting strategies designed to transfer assets tax-efficiently across generations while preserving family harmony and values.

What We Cover

• Estate plan review and coordination with legal counsel
• Probate fee minimization strategies (Ontario Estate Administration Tax)
• Multiple wills planning — primary and secondary wills
• Beneficiary designation audit: registered accounts, insurance, and pensions
• Deemed disposition planning and tax minimization at death
• Alter-ego and joint partner trusts (for clients age 65+)
• Spousal and testamentary trust strategies
• Family trust planning and income splitting
• Charitable giving and donor-advised fund strategies
• Corporate estate planning for business owners
• Succession planning for privately held businesses
• US estate tax exposure analysis for cross-border clients
• Power of attorney and incapacity planning
• Life insurance as an estate planning tool