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And Died on Leaving Assets to Be Administered with Estimated Values of Form

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foreign assets prior to death in some cases people like to give some of their assets to their beneficiaries before they pass away this allows the recipient to enjoy the use of the asset and allows The Giver the joy of seeing the benefit to the recipient there can be some tax savings as well in many provinces there's a probate fee to be paid upon the value of the assets held at death therefore by giving away these assets prior to death the estate will not have to pay the probate fees on these assets however it should be noted that at any time a person gifts an asset to another individual they are deemed to dispose of the asset at its fair market value this is true even if the other person does not pay for it a common example of this is when parents give the family Cottage to their children during their lifetime this can result in a substantial income tax bill as in many cases the value of the cottage has appreciated substantially anytime there is a transfer of assets considerati

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