It Pays to Keep Your Will Updated
Karen Christiansen (“Karen”) found out the hard way why it’s important to keep one’s will updated, especially when important life events occur. In MacLean Estate, 2009 BCSC 1159 (CanLII), the Supreme Court of British Columbia ruled that a will executed by Gordon McLean (“Gordon”) at the time he was cohabiting with and engaged to Karen […]
Maintenance Advice for Your New Home
After taking possession of a new home, there are some maintenance and safety issues that should be addressed immediately. The following checklist should help you undertake these improvements: -Change the locks on all exterior entrances, for improved security. -Check that all windows and doors are secure. Improve window hardware as necessary. Security rods can be […]
Introduction to Estate Planning
“Introduction to Estate Planning” for Faith Sanctuary Pentecostal Church, Toronto, Canada, January 29, 2010
Discussing Your Estate Plan With Your Family
“Discussing Your Estate Plan With Your Family” for Bathurst Clark Resource Library, Vaughan, Canada, January 27, 2010
Jointly Held Assets: Avoiding Some of the Pitfalls
Two or more people may own assets jointly. This most often means that on the death of one of the joint owners, full title to the asset(s) will immediately transfer to the surviving joint owner(s), known as a right of survivorship. The result is that probate fees, some solicitors’ fees, some creditors, and publicity are […]
Post-Closing Property Tax Surprises for Newly Constructed Homes
Purchasers of newly constructed homes are often surprised to receive after closing omitted or supplementary property tax bills. They are issued because between annual assessments of property values, properties continue to change. For example, new homes are constructed, owners renovate, additions are built and the uses of properties change. The change in the current value […]
RRSP Designations Within An Estate Plan
There are two common ways to designate a beneficiary of your registered plan: On the application form for the plan. This method allows for quick transfer of the plan benefits to the beneficiary upon your death. It also means that your estate will not have to pay probate fees on the value of the RRSP. […]
Before changing lenders, it’s wise to seek, knock and ask
I’ve seen a few clients lately who were very surprised at their mortgage payout statement. Unfortunately, the penalty on payout for one couple was a staggering $20,000! Here are some tips to consider before you decide to change lenders in the middle of a term: Call your current lender’s customer service and tell them you […]
Personal Effects: Have You Considered Their Effect?
The division and disposition of a deceased person’s personal goods and household effects is often a contentious issue, particularly amongst family members. The conflict is most often caused by sentimental and emotional values friends and family members place on the items rather than their intrinsic values. Unfortunately, most people spend relatively little time considering how […]
Ensuring Good and Marketable Title
The Agreement of Purchase and Sale (the “Agreement”) contemplates a period of time for the purchaser to determine whether the seller has a good and marketable title to the real property and that it is owned free and clear of any claims, liens or liabilities. Unfortunately, the search of title and other inquiries often reveal […]