Author Archives: gg_admin

How Can I Pay Funeral Expenses?

HOW CAN I PAY FUNERAL EXPENSES? When a person dies, unless they have prepaid for their funeral, this expense will have to be paid by the Estate Trustee or Executor. Often there are no funds available to pay the funeral … Continue reading

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Emotional Issues, Succession Planning and Family Businesses

SUCCESSION PLANNING IN FAMILY BUSINESSES CAN BECOME BOGGED DOWN BY EMOTIONAL ENTANGLEMENT Family is the key word in Family Business. The emotional and historical ties that bind the family together can positively and negatively impact the viability of the Family … Continue reading

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Mortgage Prepayment Penalty

MORTGAGE PREPAYMENT PENALTIES If you have a closed mortgage and you sell your property (or refinance it) you will be charged a prepayment penalty. The amount of the penalty will be determined by the terms of your mortgage. In Ontario … Continue reading

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Using a Power of Attorney to Close a Real Estate Transaction

IT IS BECOMING MORE DIFFICULT TO USE A POA TO CLOSE A REAL ESTATE DEAL People who are buying or selling a house may consider having a Power of Attorney so someone else can sign for them if they are … Continue reading

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Pre-arranged Funerals

MOST ONTARIO FUNERAL HOMES WILL ALLOW YOU TO PRE-ARRANGE YOUR FUNERAL You can also prepay your funeral but that is not necessary in order to pre-arrange your funeral. For more information click HERE. Most people arranging funerals for loved ones … Continue reading

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Prepaying Your Funeral

MOST ONTARIO FUNERAL HOMES WILL ALLOW YOU TO PREPAY YOUR FUNERAL Additionally you can pre-plan your funeral. For more information on this click HERE The funeral prepayment does not go to the funeral home before your death. In Ontario, historically … Continue reading

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HST is Applicable on the Real Estate Commission

13% ON THE REAL ESTATE COMMISSION WILL HAVE AN IMPACT ON THE SELLING PRICE If you are selling your home and using a real estate agent, you will be aware that you will have to pay commission on the sale … Continue reading

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Estate Investments

ESTATE ADMINISTRATION – ESTATE INVESTMENTS An Estate Trustee (Executor) is required to be careful with estate investments. If the Last Will and Testament of the deceased person gives specific authority to make certain types of investments, an executor can make those … Continue reading

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No Will and Separated … Who Inherits What?

PREFERENTIAL SHARE OF MARRIED SPOUSE IF YOU DIE WITHOUT A WILL (EVEN IF YOU HAVE BEEN SEPARATED, BUT NOT DIVORCED, FOR MANY YEARS) On intestacy (dying without a Will) where the deceased was married at the time of their death … Continue reading

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Ontario Retail Sales Tax Clearance Certificates

IN ONTARIO RETAILS SALES TAX CLEARANCE CERTIFICATES ARE STILL REQUIRED Ontario has had harmonized sales tax (“HST”) since July 1, 2010. Ontario Retail Sales Tax formed a lien against the assets of a business if they were sold unless a … Continue reading

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