Become Principal Residence Savvy!
Real estate has long been a much sought after type of investment due to its income earning potential and its historical trend of increasing in value over time. In fact, many believe they will “cash in” by holding real estate in their asset portfolio and eventually selling it for significant profits. However, there are tax […]
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 […]
Applying for Probate: A Taxing Affair
The Certificate of Appointment of Estate Trustee (the “Certificate”) (formerly Letters Probate) is required by some third parties dealing with the executors and trustees in order to confirm the date of death and the executors’ and trustees’ authority to act. It is issued in both cases where there is or is not a will. Before […]
Home Finances
Friday, March 26, 2010, 7:30 p.m. Hosted by Grace Christian Life Centre 801 Progress Ave. Scarborough, ON M1H 2X4 The Legal and Timely Issues Seminar Series chaired by Andrea P Kelly invites you to come out for an informative discussion on home finances. In this session, you will learn: Mortgages Taxes Purchase transaction closing costs […]
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 […]