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3 The key changes to the Estates Act are discussed below. A Small Estate is Set at $150,000 A small estate will mean an estate that does not exceed $150,000 in value. It should be noted that the introduction of small estates will have no impact on the calculation of the Estate Administration Tax (often called, probate fees ) under the Estate Administration Tax Act 4 and the filing requirement of an Estate Information Return within 180 days following the grant of probate. Simplified Probate Process for Small Estates A new probate proceeding for small estates will be available to Estate Trustees. The new procedures under the Rule 74.1 ....
To print this article, all you need is to be registered or login on Mondaq.com. This guide to Bermuda s private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction, including charitable or philanthropic structures. It also looks at capital gains, withholding and wealth tax rules along with issues relating to real property, immigration, succession, making a will and estate planning considerations, legislative changes and disclosure obligations. Which factors bring an individual within the scope of tax on income and capital gains? Bermuda does not impose income or capital gains taxes. What are the taxes and rates of tax to which an individual is ....
To print this article, all you need is to be registered or login on Mondaq.com. This guide to Cayman s private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction, including charitable or philanthropic structures. It also looks at capital gains, withholding and wealth tax rules along with issues relating to real property, immigration, succession, making a will and estate planning considerations, legislative changes and disclosure obligations. Which factors bring an individual within the scope of tax on income and capital gains? This question is intended to address the territorial scope of the taxes that your jurisdiction imposes on income and capital ....
This guide to Cayman's private client sector includes commentary on tax, trusts, foundations and private wealth structures used within the jurisdiction, including charitable or philanthropic. ....