Published on YouTube: 7 Mistakes You’re Making with Estate Administration Ontario (and How to Fix Them)
7 Mistakes You’re Making with Estate Administration Ontario (and How to Fix Them)
7 Mistakes You’re Making with Estate Administration Ontario (and How to Fix Them) Are you an Estate Trustee in Ontario feeling overwhelmed? Being an executor is more than just reading a Will—it’s a fiduciary role that carries significant personal liability. In this video, Brandon Smith from Smith Estate Trustee Ontario breaks down the 7 most common (and costly) mistakes people make during the Ontario probate process. From missing the 180-day Estate Information Return deadline to the "Clearance Certificate" trap, we cover the legal and financial pitfalls you need to avoid to stay out of court and keep the CRA happy. What you’ll learn in this video: ✅ Why distributing assets too early can cost you personally. ✅ The difference between a regular estate and an Insolvent Estate. ✅ How the Bankruptcy and Insolvency Act (BIA) protects Ontario executors. ✅ Why you MUST have a dedicated Estate Bank Account. ✅ The "Fix" for each mistake to ensure a smooth administration. About Brandon Smith: Brandon Smith is a Licensed Insolvency Trustee (LIT) and Senior Vice-President at Smith Estate Trustee Ontario. With decades of experience in complex financial restructuring and estate administration, Brandon helps Ontario families navigate the probate system with compassion and technical expertise. Need help with a complex or insolvent estate? 📞 Call us: (647) 799-3312 🌐 Visit: https://ift.tt/I65cXxP 📍 Location: 167 Applewood Crescent, Unit 6, Vaughan, ON Resources Mentioned: - Estate Administration Tax (Ontario) - Succession Law Reform Act (SLRA) - CRA Clearance Certificates VIDEO CHAPTER: 00:00 Introduction: 7 Mistakes in Estate Administration Ontario 00:10 Mistake 1: Distributing Money Early & CRA Tax Risks 00:18 Mistake 2: Unsecured Assets & Vacant Property Insurance 00:28 Mistake 3: Co-Mingling Personal & Estate Funds 00:36 Mistake 4: Skipping the CRA Clearance Certificate 00:45 Protecting Yourself & Contacting Ira Smith Trustee & Receiver Inc. #EstateAdministration #OntarioProbate #ExecutorMistakes #LicensedInsolvencyTrustee #SmithEstateTrustee #BrandonSmith #OntarioLaw #EstateAdministrationOntario #OntarioProbate #LicensedInsolvencyTrustee #ExecutorTips #SmithEstateTrusteeOntario
via YouTube https://www.youtube.com/watch?v=qYOAPgz-zWk
7 Mistakes You’re Making with Estate Administration Ontario (and How to Fix Them) Are you an Estate Trustee in Ontario feeling overwhelmed? Being an executor is more than just reading a Will—it’s a fiduciary role that carries significant personal liability. In this video, Brandon Smith from Smith Estate Trustee Ontario breaks down the 7 most common (and costly) mistakes people make during the Ontario probate process. From missing the 180-day Estate Information Return deadline to the "Clearance Certificate" trap, we cover the legal and financial pitfalls you need to avoid to stay out of court and keep the CRA happy. What you’ll learn in this video: ✅ Why distributing assets too early can cost you personally. ✅ The difference between a regular estate and an Insolvent Estate. ✅ How the Bankruptcy and Insolvency Act (BIA) protects Ontario executors. ✅ Why you MUST have a dedicated Estate Bank Account. ✅ The "Fix" for each mistake to ensure a smooth administration. About Brandon Smith: Brandon Smith is a Licensed Insolvency Trustee (LIT) and Senior Vice-President at Smith Estate Trustee Ontario. With decades of experience in complex financial restructuring and estate administration, Brandon helps Ontario families navigate the probate system with compassion and technical expertise. Need help with a complex or insolvent estate? 📞 Call us: (647) 799-3312 🌐 Visit: https://ift.tt/I65cXxP 📍 Location: 167 Applewood Crescent, Unit 6, Vaughan, ON Resources Mentioned: - Estate Administration Tax (Ontario) - Succession Law Reform Act (SLRA) - CRA Clearance Certificates VIDEO CHAPTER: 00:00 Introduction: 7 Mistakes in Estate Administration Ontario 00:10 Mistake 1: Distributing Money Early & CRA Tax Risks 00:18 Mistake 2: Unsecured Assets & Vacant Property Insurance 00:28 Mistake 3: Co-Mingling Personal & Estate Funds 00:36 Mistake 4: Skipping the CRA Clearance Certificate 00:45 Protecting Yourself & Contacting Ira Smith Trustee & Receiver Inc. #EstateAdministration #OntarioProbate #ExecutorMistakes #LicensedInsolvencyTrustee #SmithEstateTrustee #BrandonSmith #OntarioLaw #EstateAdministrationOntario #OntarioProbate #LicensedInsolvencyTrustee #ExecutorTips #SmithEstateTrusteeOntario
via YouTube https://www.youtube.com/watch?v=qYOAPgz-zWk