Effective Succession Planning for Cottages and Investment Properties

Despite the obvious benefits of owning a cottage or investment property, there are numerous issues that can arise when they are transferred. For example: Which children, if any, are interested in future ownership? Which one(s) do you want to transfer it to? What are the tax and probate fee implications to transferring the property now…

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…

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…