WHAT WE ARE ALL ABOUT
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Established in 2017, Ontario Estate Consulting Solutions Inc. is a firm that specializes in estate planning for clients anywhere in Ontario. Our estate consultants are professional accountants (not lawyers) with specialized training and professional designations in estate planning. We do not sell insurance, investments, tax, or banking services or products.
We do not pay or receive referral fees from any source so we remain totally independent.
Anyone who would like to meet with us can have up to one hour of our time for a free initial consultation (typically by Zoom or by phone) to discuss your situation, answer your questions, and help you to better understand your estate planning issues and options.
We have completed 689 estate plans to date for clients from all walks of life and have 65 open planning engagements on the go at this time. We have decades of experience in estate planning and estate administration to share with you.
In particular, we have worked on estate planning that involved:
estates which included holdings in private corporations or other business interests including planning an "estate freeze" and integrating estate planning with business succession planning and family trusts
common law couple estate planning
special needs beneficiaries estate planning such as beneficiaries that are collecting ODSP
estates with assets outside of Canada or Ontario
blended family estate planning and issues with children from prior relationships
estate planning where there are family challenges relationally including estrangement, addiction, spendthrifts etc.
estate planning involving the creative use of trusts including Henson Trusts
estate planning involving family cottages or recreational properties
optimizing charitable giving within an estate plan where there is a desire to benefit favourite charities
estate planning using trust companies as professional executors, power of attorney for property and trustee for trusts either in the primary or backup position (we have relationships with all the trust companies in Ontario)
collaboration with expert lawyers and accountants for people who own USA assets, are "US Persons" or hold a USA passport
We have relationships with quality Ontario estate planning lawyers who take the estate plans that we create with our clients and draft the wills and power of attorney documents that flow from the plans.
We believe that most people in Ontario will benefit from having two wills per person rather than only one will per person. Check out our workshop section below to learn more about this.
We also believe that having an accountant create the estate blueprint and then having the lawyer drafting documents thereafter from the blueprint benefits our clients by having two professionals involved in the planning. We like to tell the lawyers that their job is to keep us honest and our job is to keep them honest.
Scroll down to access our other estate planning resources and our pricing model.
We will happily provide references upon request from clients, accountants, lawyers and trust company trust officers that we have worked with.
Thank you for visiting our website!
HOW WILL HAVING TWO WILLS PER PERSON BENEFIT ME?
WITH ONE WILL
When the last spouse dies, the estate will pay 1.5% Ontario probate on the fair market value of ALL of your estate assets IF there is ANY asset where the executor requires a probate certificate in order to gain access to that asset or to dispose of that asset.
If you own any real estate in Ontario AND you have owned it continuously since before 2003 (this year applies to Waterloo Region but the cut off date may be different in other parts of Ontario) THEN your estate WILL have to pay 1.5% probate on the fair market value of that real estate when the last spouse dies.
When the last spouse dies, the estate will pay 1.5% Ontario probate on the fair market value of the shares of any private business that you might own and the executor will have to get a valuation done for probate purposes.
When the last spouse dies, the estate will pay 1.5% Ontario probate on the fair market value of any life lease retirement property that you might own and the executor will have to get a valuation done for probate purposes.
When the last spouse dies, the executor will have to inventory all your personal effects, appraise them for fair market value and pay 1.5% Ontario probate on the value of your personal effects
The Ontario Information Return that your executor completes will be subject to a possible audit by the Ontario government for up to 4 years into the future on all your declared estate assets
WITH TWO WILLS
When the last spouse dies, the estate will pay 1.5% Ontario probate on the fair market value of ALL of your estate assets IF there is ANY asset where the executor requires a probate certificate in order to gain access to that asset or to dispose of that asset.
If you own any real estate in Ontario AND you have owned it continuously since before 2003 (this year applies to Waterloo Region but the cut off date may be different in other parts of Ontario) THEN your estate will NOT have to pay 1.5% probate on the fair market value of that real estate when the last spouse dies.
When the last spouse dies, the estate will NOT pay 1.5% Ontario probate on the fair market value of the shares of any private business that you might own and the executor will NOT have to get a valuation done for probate purposes.
When the last spouse dies, the estate will NOT pay 1.5% Ontario probate on the fair market value of any life lease retirement property that you might own and the executor will NOT have to get a valuation done for probate purposes.
When the last spouse dies, the executor will NOT have to inventory all your personal effects, will NOT have to appraise them for fair market value and will pay NO 1.5% Ontario probate on the value of your personal effects
The Ontario Information Return that your executor completes will essentially NOT be subject to a possible audit by the Ontario government so that the estate can be settled more quickly.
OUR PRICING MODEL AND ENGAGEMENT LETTER
FOR ESTATE PLANNING SERVICES:
OUR CONTACT INFORMATION:
Serving clients anywhere in Ontario (and sometimes beyond)
Jim Kibble, BBA, CPA, CA, TEP, CEA
226-600-2984
Member of the Estate Planning Council of Waterloo-Wellington, the Estate Planning Council of Canada, the Chamber of Commerce of Greater Kitchener-Waterloo, the Canadian Association of Farm Advisors and the New Hamburg Board of Trade
Keith Augustine, BA,CPA,CMA,CFP,FCSI,TEP
905-807-2657
Member of the Estate Planning Council of Hamilton-Wentworth
Alexandra (Alex) Drummond-Witmer , BBA,CPA,CA
519-590-0237
adrummond-witmer@kibblefamily.com
OUR FREE MONTHLY ZOOM ESTATE PLANNING WORKSHOPS:
Offered on the 2nd Wednesday of
every month at 7pm
Workshop #1
6 Buckets of Estate Planning
Zoom Workshop
... also known as "why most people in Ontario should consider having two wills per person"
Over 8,000 people have attended this workshop to date. We teach using a hypothetical case study of "Aunt Millie and Uncle Bob" and illustrate the benefits of having two wills per person rather than only one will per person as we administer their estate. Having two wills per person will reduce the amount of 1.5% Ontario probate payable by the estate, eliminate the need to inventory and appraise all the personal effects, eliminate the need to appraise other assets, and make the burden placed on the executor much less onerous.
To register for this workshop, click here
Offered on the 3rd Tuesday of
every month at 7pm
Workshop #2
Executor 101 Training
Zoom Workshop
...teaching up and coming potential executors what they are facing when they are acting as an executor one day
Starting in 2021 we are offering this free monthly Zoom workshop to do a "deep dive" into the duties and responsibilities of serving as an executor in Ontario, Canada.
Being an executor is not something everyone is cut out for and now is the time to figure out if you are prepared to take on this responsibility.
To register for this workshop, click here
To download a copy of our
Executor Duties Checklist, click here
OUR FREE ON DEMAND
ESTATE PLANNING PODCAST LIBRARY:
Description
Click on the link below to listen:
Common Estate Planning problems that can lead to estate litigation later:
Legitimate way to eliminate probate on non-registered bank accounts or investments.
Estate planning for families with cottage or recreational properties
Estate planning for those with assets in the USA
Estate planning for the newly "uncoupled"
Navigating Ontario's Long Term Care System
Estate planning for common law relationships
Planning for charitable gifts in a will
Power of attorney for personal care
Executor Liability insurance
Qualify for the disability tax credit
Executor compensation
What Ontario real estate can be exempt from 1.5% Ontario probate using a two will per person approach?
Estate planning for a blended family
The good the bad and the ugly with assets in joint ownership with people other than a married spouse
Why you might want to consider using a trust company as your executor
SUBSCRIBE TO OUR PODCAST ALERTS:
If you would like to receive an email from time to time when new podcasts are released to the public or other noteworthy estate planning related events take place, please send an email to jim@kibblefamily.com with the message “I CONSENT” and we will add you as a subscriber. You can withdraw consent at any time. We currently have about 700 subscribers and growing.
CHECK OUT OUR BLOG
If you would like to get a feel for the type of people that we serve each day, have a look at our blog which is updated monthly. Click here to check it out!
OTHER FREE ESTATE PLANNING RESOURCES:
Description
Click on the link below to access:
Zoom video recording of one of our prior executor 101 training workshops teaching about the duties and checklist when serving as an executor
Zoom video recording of one of our prior estate planning workshops teaching about the benefits of having two wills per person
A one page summary of the benefits of having two wills per person rather only one will per person
The Ontario Estate Information Return document
An index of what documents you might consider including in your "executor binder"
Our daily blog describing the people we work with day to day
Personal effects memorandum
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