Ontario Barrister and Solicitor Practice Exam

Here are some examples of excluded property categories: 1. Personal property, such as furniture and household items, is not included in the calculation of estate administration tax. 2. Life insurance proceeds payable to a named beneficiary are not considered part of the estate and therefore not subject to estate administration tax. 3. Property held in trust for the benefit of another person is not included in the estate and is not subject to estate administration tax. 4. Registered Retirement Savings Plans (RRSPs) or Registered Retirement Income Funds (RRIFs) with a named beneficiary are not included in the estate and are not subject to estate administration tax. 5. Property located outside of Ontario, such as real estate, is not included in the calculation of estate administration tax. 6. Jointly owned bank accounts, where the deceased was not the sole owner, are not included in the estate and are not subject to estate administration tax.