Lawyer review critical for newbuild condos deals

Take advantage of the cooling off period to avoid getting burned on a newbuild condo deal. Brand new condo purchases hold a unique status in Ontario’s real estate world, carrying with them a slew of extra steps and adjustments that can easily catch out ordinary consumers.   As a result, provincial law requires a 10-day rescission [...]

By |2021-01-07T19:36:49+00:00January 7th, 2021|

Estate planning: Don’t wait until it’s too late

There’s no better time than the present to get your estate in order.I’ve heard every excuse in the book from procrastinators who say they’re too young, too old, too poor or too scared to think about getting a will or a power of attorney in place.But the truth is that everyone can benefit from getting [...]

By |2020-12-21T16:01:40+00:00December 17th, 2020|

Eliminate joint-account confusion to avoid estate litigation

Parents could be sowing the seeds of a future estate battle when they set up a joint bank account with a child. There are good estate planning reasons for owning property jointly with a beneficiary – it can be an effective way to transfer funds while avoiding the 1.5 per-cent probate tax otherwise payable [...]

By |2020-11-25T20:00:04+00:00November 19th, 2020|

Take care when selecting an executor

Administering an estate is no cakewalk, so make sure your choice for executor knows what they’re getting themselves into ahead of time. There is no doubt that the responsibility associated with the position of estate trustee calls for the appointment of someone you know well and trust implicitly. But there’s no point in selecting someone who lacks [...]

By |2020-11-25T20:00:24+00:00November 12th, 2020|

Cut paperwork before making virtual wills permanent

Virtual witnessing of wills has been a great innovation for the pandemic, but there is still room for improvement before making it permanent.Since April, emergency regulations prompted by the COVID crisis have allowed testators to have their wills witnessed remotely, without the need to meet in person with their lawyer (or anyone else for that [...]

By |2020-11-25T20:01:25+00:00October 9th, 2020|

Putting your pet in your will

Providing for a little kitty to go with your pet can help ensure your wishes are met when it comes to their care after your passing.Many families regard their pets as full members, and a growing number of wills reflect that fact.A report by the Globe and Mail features a Vancouver couple in their 30s [...]

By |2020-10-01T17:38:40+00:00October 1st, 2020|

Beware of double-ending realtors

Sellers and buyers should steer clear of “double-ended” real estate deals in which the same broker acts for both sides. The practice is banned in B.C., with many crediting that province’s legislative action to a 2017 CBC Marketplace investigation, in which undercover journalists posing as prospective buyers exposed a number of agents who were [...]

By |2020-09-25T13:22:31+00:00September 24th, 2020|

Build a cottage estate plan to stop family feuds

Testators need to take the initiative to stop a feud developing over the future of the family cottage.As one of the more valuable assets in any estate, there’s always a chance the fate of the cottage could ignite a dispute among beneficiaries.But it’s the extra layer of emotional baggage that comes with a lifetime of [...]

By |2020-09-24T21:52:16+00:00September 17th, 2020|

What to think about when buying a cottage

Purchasing a cottage may seem like a bargain compared with a home in the city, but buyers still need to do their due diligence.According to a story in the Globe and Mail, many millennials priced out of the Toronto market are taking their first steps on the property ladder in cottage country, preferring to rent [...]

By |2020-09-10T22:56:03+00:00September 10th, 2020|

Do resale due diligence to avoid nasty utility bill surprises

A recent CTV News story reported on the stunned buyer, who received a demand for $38,000 outstanding on the old owner’s tab, four months after completing a deal to buy the property.“I nearly passed out," he told the network. But the whole saga could have been avoided had his lawyer ordered a utility certificate to [...]

By |2020-08-20T23:58:04+00:00August 20th, 2020|
Go to Top