Truvera Trust Corporation

04/27/2023

🤔 Frequently Ask Questions Corner:
Q: How much are the probate fees in British Columbia?

A: Probate fees in BC start at $6.00 per thousand or part thereof for any amount over $25,000 and up to $50,000. For estates valued at over $50,000 the fee rises to $14.00 per thousand or part thereof. In addition, there is a basic charge of $200.00. For example, for an estate valued at $175,000 the fee will be:
Basic fee is $200.00
$50,000-$25,000 @ $6.00 per thousand is $150.00
Balance $125,000 @ $14.00 per thousand is $1,750
Total probate fee is $2,100

Have questions? Feel free to contact us [email protected]

04/26/2023

Today we'll talk about Inter-Vivos Trust

Also known as a living trust, this trust has a duration that is deemed at the trust’s creation and can entail the distribution of assets to the beneficiary during or after the trustor’s lifetime. The opposite of an inter-vivos trust is a testamentary trust, which goes into effect upon the death of the trustor.
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Still, have questions about Inter-Vivos Trust? Contact us [email protected]

04/26/2023

Should I put my Will in my safety deposit box? Let's discuss!

Should I put my Will in my safety deposit box? That is a frequently asked question by many clients of mine.

04/26/2023

Our partners news:
Welcome New Associate Allison Sharkey https://trts.io/tDv3U

04/26/2023

☝🏾 Frequently Ask Questions Corner:
Q: Is there any estate tax in Canada?

A: No. There is no estate tax in Canada or Succession Duties in British Columbia. Depending on the size of the estate there may be probate fees to be paid.

Have questions? Feel free to contact us [email protected]

04/25/2023

Today we'll talk about Tax Clearance Certificate

A certificate issued by the CRA confirming that a person’s tax affairs are in order at the date of issuance. This includes all previously filed personal and estate filings.
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Still, have questions about Tax Clearance Certificate? Contact us [email protected]

04/24/2023

Writing & Updating your Will
Most people review their Will every few years, or after a change in personal circumstances such as marriage, parenthood, change in marital status, grandchildren and acquisition or sale of major assets, in order to assess whether the instructions in their Will need to be updated. It is also important to consider changes to legislation – in British Columbia a new law called the Wills, Estates and Succession Act changed rules concerning Wills and Estates for deaths occurring after March 31, 2014.
For more detailed information, download and read our brochure about Wills & Estates services https://trts.io/L66Mb

04/23/2023

What others are saying about Truvera Trust Corporation?
I have had the opportunity to work with Ian Williamson and Truvera Trust since inception both as a CPA,CA in Public Practice and as the Executor of several Estates.
In all circumstances, I have found Ian to be professional, practical and knowledgeable with high ethical standards. I would not hesitate to recommend Truvera Trust should the occasion arise in the future and have done so in the past.

John McCormack, Retired Partner at MNP

04/10/2023

Enduring Power of Attorney Services
Managing another person’s financial affairs under their Power of Attorney carries great responsibility. If you’re not sure that a family member or trusted friend would be capable or willing, you can name a trust company, such as Truvera Trust Corporation, as your Attorney or Alternate Attorney. This relieves family or friends of the time commitments and legal liabilities of this responsibility.
For more detailed information, download and read our brochure about Enduring Power of Attorney Services https://trts.io/8W9ij

04/06/2023

☝️ Frequently Ask Questions Corner:
Q: I have been told a Corporate Executor can charge more than an individual – is this correct?

A: No. The Executor’s fees are outlined under Section 88 of the Trustee Act of BC. The Executor’s fee under the act may be no more than 5% of the gross aggregate assets of the estate including capital income. This applies to both individuals and Corporate Executor.

Have questions? Feel free to contact us [email protected]

04/04/2023

Today we'll talk about Letters Probate

A document issued by a court confirming the authority of the executor named in a will. It also certifies that the will is the Last Will and Testament of a deceased person.
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Still, have questions about Letters Probate? Contact us [email protected]