Eleanor, a resident of Ontario, passes away with a will leaving her entire estate of $800,000 to her two children. The estate consists solely of investment accounts held in her name. What would be the approximate probate fees payable in Ontario?

Question: Eleanor, a resident of Ontario, passes away with a will leaving her entire estate of $800,000 to her two children. The estate consists solely of investment accounts held in her name. What would be the approximate probate fees payable in Ontario?

Answer options: ✅ Approximately $11,500

• Approximately $14,500
• Approximately $8,000
• Approximately $16,000

Correct answer: Approximately $11,500

Explanation: In Ontario, probate fees (Estate Administration Tax) are $5 per $1,000 for the first $50,000, and $15 per $1,000 for the amount exceeding $50,000. For an $800,000 estate, this is ($50,000 / $1,000 * $5) + ($750,000 / $1,000 * $15) = $250 + $11,250 = $11,500. This calculation determines the cost for validating the will.