December 19, 2014

Mediation in Estate Litigation

Estate litigation is becoming increasingly popular in Ontario. Estate litigation relates to many different aspects of an estate including:

  • Whether or not the deceased had the capacity to make a Will;
  • Whether someone forced the deceased to make changes to their Will which benefited some beneficiaries and not others;
  • Whether those who acted under Power of Attorney before the deceased passed away dealt with the assets properly and had accounted for them;
  • Whether an executor is properly administering an estate;
  • Just about any other aspect of an estate that you can imagine. [Read more…]

Corporate Executor – When to Use One

When you prepare your Will you will need to select one or more executors to administer your estate . People will often select their spouse as their initial executor and their children as their alternate executors.

There may be situations where having a “corporate executor” makes sense for you. A corporate executor consists of executor services provided through a trust company. Many Canadian financial institutions offer corporate executor / estate trustee services. [Read more…]

Documents and Forms

G+G DocumentsWelcome to the Gilmore and Gilmore Documents and Forms page. Visitors to the Gilmore and Gilmore website are invited to access the following documents and forms free of charge.

Please be advised that the Documents and Forms provided are in the DEVELOPMENT and TESTING PHASE (Beta Test) therefore we do not provide any warranties, guarantees or technical support regarding the access, completion or use of these documents and forms. [Read more…]

Mortgage Prepayment Penalty

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 it is common for the prepayment penalty to be the greater of the interest rate differential and three months’ interest. [Read more…]

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 not going to be around to sign the closing documents. The use of Powers of Attorney to close purchase, sale or mortgage transactions is becoming increasingly difficult. [Read more…]

Lawyers and their support team working remotely

LogMeIn is a computer application that allows you to remotely control a computer. If you have LogMeIn installed on your office computer, you can remotely access and control that computer from any other computer that also has LogMeIn installed on it. LogMeIn can also be installed on portable devices like an IPad or IPhone (the IPhone screen is a little small however). [Read more…]

Misuse of Powers of Attorney

THE MISUSE OF POWERS OF ATTORNEY

A Power of Attorney for Property gives one or more individuals the authority to deal with your assets and liabilities. If there are no limitations in the Power of Attorney (and usually there are not) the Power of Attorney will allow the people you name to do anything you can do except make a Will. [Read more…]

The Importance of Power of Attorney for Property …

and why you need a Power of Attorney for Property.

A Power of Attorney for Property appoints one or more people to act for you (they are called Attorneys, even though they may not be lawyers) in relation to your various assets and liabilities. A Power of Attorney for Property may authorize the attorney to do anything you can do except make a Will. You can restrict the nature of the Power of Attorney, either with respect to its commencement and/or expiry date, or with respect to which of your assets and liabilities the attorney can deal with. [Read more…]

Managing Real Estate Assets …

If the Deceased owns a house or other real estate, there are some basic steps you will want to take immediately to ensure the security of the real estate asset(s). Consulting a a lawyer about these steps is critically important and should be done sooner rather than later.

That said there are some basic steps you will want to take immediately to ensure the security of the real estate asset(s). [Read more…]

Independent Legal Advice in Real Estate Transactions

G+G Real Estate1

There are situations where one or more people involved in a real estate transaction will be required to obtain independent legal advice prior to the deal closing. [Read more…]