Question: An elderly passed away this month most likely without a Will. Due to health issues, house and payments were under a “guardianship”. She left behind adult children. Where do …
Why not Draft a Cat Will?
Since this is “bring your cat to the office day”, I had an interesting situation to bring to your attention. An elderly woman passed away and she loved her cat …
Spousal Refusal on Buyout
Can one spouse refuse to allow the other to buy them out of the matrimonial home at accredited appraiser’s value and insist on property being listed and sold? This is …
When Does the Power of Attorney Start?
This is a very interesting question. Many will say that the Power of Attorney does not start until the person (who granted it) becomes incapacitated. However, that’s not true. Let …
Joint Tenancy Statement of Intention
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 …
Accountant’s Comments on Tax Returns
If you sold your home in 2023, you must report the sale on your tax return, even if it was your principal residence for the whole time you owned it. …
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 …