How is the probate tax calculated?
e-State Planner automatically calculates the probate tax on the asset according to whatever province the client's residency is set as. The default residency for every client is Ontario, so if it is not changed, probate tax will be calculated according to Ontario law.
Note: If you are adding a real estate asset, the probate tax will be calculated according to the jurisdiction of the property.
Why isn't the income tax automatically calculated?
Due to the variability of different client’s tax brackets, the income tax is a manual calculation. When adding the asset, it is best practice to enter the highest possible tax you could incur - 50% of an RRSP or 25% of the capital gain of an asset. During the planning process, depending on how specific assets are gifted and designated, the system will know to deduct tax accordingly.