Estates Made Simple
Welcome to the “Estates Made Simple” Podcast, hosted by Gordon VanderLeek, a licensed lawyer specializing in wills, estates and trusts, and Jenna Carvalho, an estate and trust consultant with over 10 years experience helping families secure their assets and plan for the future. We are a bi-weekly podcast that discusses the complicated and often confusing world of estate administration. Our goal is to provide you with the insight, knowledge and resources to help you navigate this complex process. Every episode we bring our unique perspective to provide listeners with unbiased information and practical tips to ensure success and mitigate risk. Even if you are not an executor, there will be topics of interest as you consider planning options for your own estate. Join us for helpful tips and important information on navigating estate administration so you can achieve peace of mind as an executor or administrator.
Estates Made Simple
Navigating Estate Administration Across Jurisdictions
Summary:
In this episode, we delve into the complexities of administering estates with assets spread across multiple jurisdictions. As individuals increasingly acquire properties in different provinces or even countries, it's vital for executors to understand the legal and practical considerations involved. From probate processes to tax implications, we explore the steps and challenges of managing such estates.
Key points:
- Executors must identify the appropriate jurisdiction for each asset, including those located outside the primary residence.
- Assets located in other jurisdictions require resealing applications in each relevant province or country.
- Probate fees vary by jurisdiction and may include flat fees or a percentage of asset value.
- Understanding tax implications, capital gains, and valuations is essential for managing assets effectively.
- Executors may need to work with different professionals in each jurisdiction, including lawyers, real estate agents, and appraisers
Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
Facebook
LinkedIn
Instagram
Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
Facebook
LinkedIn
Instagram