Category Archives: Featured

Buyer Fails to Close Real Estate Purchase

BUYER FAILS TO CLOSE REAL ESTATE PURCHASE The Ontario real estate market experienced a significant correction in the spring of 2017 with the foreign buyer 15% tax imposed by the provincial government for GTA properties and the new Mortgage Stress … Continue reading

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Estate Property and Vesting

ESTATE PROPERTY MAY “VEST” 3 YEARS AFTER THE DATE OF DEATH As a general rule, real estate that has not been transferred by an Executor / Estate Trustee of the Estate will “vest” in the beneficiaries of the Estate 3 … Continue reading

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More Debts than Assets in an Estate

WHAT TO DO WHEN THERE ARE MORE DEBTS THAN ASSETS IN AN ESTATE What does an executor do if the debts of the estate exceed the assets? First of all, the executor (estate trustee) is not required to assume the executor … Continue reading

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“Unvesting” Estate Property

“UNVESTING” REAL ESTATE  NOT TRANSFERRED WITHIN 3 YEARS OF DEATH If property has vested because it has not been dealt with by the Executor / Estate Trustee within 3 years of the date of death there are options available to … Continue reading

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Specific Gifts in a Will

IT IS IMPORTANT TO ENSURE YOU HAVE A GIFT CLAUSE IN YOUR WILL If your Will leaves specific items to someone, you should ensure a gift clause says what is to happen if that person should predecease you. If you … Continue reading

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How Can I Pay Probate Tax?

HOW CAN I PAY PROBATE TAX? When a probate application is filed with the Superior Court in Ontario, Estate Administration Tax (Probate Tax) has to be paid on the value of the estate. Often there are no funds available to … Continue reading

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What to do with the deceased’s cards?

ESTATE ADMINISTRATION – WHAT TO DO WITH ALL OF THE DECEASED’S CARDS? There are different requirements and recommendations relating to the various cards when someone dies – credit cards, health card, Social Insurance Card, etc. – once those cards are … Continue reading

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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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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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