Calculation of Estate Administration Tax
NAME:
	VALUE OF ESTATE	Value of Assets Subject to Probate
Indicate the value for Estate Administration Tax purposes of the following items:
Debts of the Deceased:
Credit Card Debt	6,000
Funeral Expenses	8,795
Unsecured Line of Credit	30,000
Total Debts of the Deceased	44,795
ASSETS OF THE DECEASED:
Bank account in testator's name alone	85,000
Bank account held jointly with spouse	10,000
Canada Savings Bonds with spouse named as beneficiary	25,000
Furnishings for the home bought by the husband and wife during marriage (held jointly)	8,000
Shares in a privately owned company	50,000
Shares in Bell Canada	9,500
Loan made by testator to friend (account receivable for estate)	10,000
Rent owing by tenant for 6 months arrears	4,578
Life insurance with son named as beneficiary	250,000
Life insurance bought to cover funeral and payable to estate	47,000
RRSP with spouse named as beneficiary	150,000
RRSP with daughter named as beneficiary	50,000
Total value of Personal Property	699,078
Real Estate
Matrimonial home owned as joint tenants	650,000
Mortgage on Matrimonial home	-400,000
Rental property owned by testator and 2 sisters as tenants in common as to a one-third interest - Fair Market Value $900,000	300,000
Mortgage on Rental Property $ 300,000	-100,000
Cottage located in Quebec	350,000
Total Value of Real Estate Net of Encumbrances	800,000
Total Value of Assets held by the Estate	1,454,283
Total Value for Calculation of Probate Tax (Estate Administration Tax)