Question: Should we be getting insurance for the PREC? The RECO Update course says the PREC is not insured under the RECO insurance but the Registrant still is. Answer: Your …
Elderly Couple Live Together: Any Rights?
Question: An elderly couple in their early ‘80’s meet, and decide to move in together. She had a townhouse and changed title to her daughter’s name. She has been in …
Can a Corporation Be a Joint Tenant?
From time to time people wonder whether a corporation can hold title as a joint tenant. After all, it can’t really die? Strange question, in fact, I have been asked …
Maintaining Good Financial Books and Records
If you are in business, you should keep good financial records. It just makes sense, but so many small businesses neglect this tedious and somewhat time-consuming task. Careful records take …
Divorced: but still stuck together!
You probably never thought of this and it certainly doesn’t happen very often, but when it does it definitely causes havoc. Let’s take the case of Jim and Wendy. Wendy’s …
Be Sure About Beneficiary Designations
In a recent case, the Ontario Court of Appeal, Fair v. BMO Nesbitt Burns Inc., 2022 ONCA 711, looked into the issue of beneficiary designations, the fiduciary duties of an …
Wills for Everyone!
Everyone has a Will. The problem is that most people don’t know where it is. They have never seen it, they never signed it and they don’t know what it …
Joint Tenancy Declarations
Now that the Supreme Court of Canada has changed the law, what are you going to do about it? Just a quick summary about the law. There are basically two …
Joint Tenancy Issues (Even More)
While there are some advantages to joint tenancy, there are also some problems. The primary advantage is the ease of administration of a deceased’s estate. It is simple and uncomplicated, …
One Person on Title Dies
What happens to the property when one person on the title passes away? Question: A client is on the title of her home along with her 30 year old son. …