When a parent adds a child to the title to their property is that child a 50% co-owner or a Trustee for the parent? It all depends upon what was …
Child Added to Title of Family Home
Joint Tenancy – Numerous Risks This may or may not be a good idea. At the outset, the advantage is to eliminate “probate fees”. Actually, that’s the estate administration tax, …
Confiscation Tax
Confiscation Tax (66.67% inclusion of capital gains) With Trudeau’s resignation, the Confiscation Tax may be gone. There were amendments to the capital gains taxes to be implemented effective 24 June …
Estate Planning: All to the Children
Question: If someone has 3 children and he wants to give equal share to all three of them and he doesn’t believe in drafting his Will . Can you please …
Estate Planning: 30 Year Marriage
Question: The husband and wife have been married for more than 30 years and have 4 adult children. They co-own their primary residence and two condo investments. Can one of …
Inheriting the Parent’s House
Question: If you inherit a house from parents in Canada through a Will, how is it taxed as a primary residence? What are the pros & cons of putting it …
Representing Sellers in Estate Sales
Questions: Answers: The authority of the Executors comes from the Will, They can sign a Listing Agreement, the Agreement of Purchase and Sale, and related and ancillary documents. However, they …
Seller Might Pass Before Closing
Question: If an elderly seller (sole owner) lists a vacant property utilizing a Power of Attorney, sells firm with a quick closing date, but dies before closing. How can the …
Joint Tenancy or the Will?
Question: I have a client who wants to stay in her home. Her husband recently died and both names were on title (Joint Tenancy). However the husband willed his half …
Power of Attorney and Death
Question: I sold my client’s home pursuant to a Power of Attorney The home was supposed to close last week but due to the Buyer’s circumstances, it’s been delayed 3 …