(Ontario) Question: If a husband has passed away and he left a will to his wife stating that all his assets will pass to her and then their children when …
Who Gets Your Estate?
Ontario Are you married or not? Are you living together with someone in a marriage like relationship? In Ontario, you need to be married to be a spouse. In British …
Non-Resident Sales Tax and Citizens
(Ontario) Question: If someone is a Canadian Citizen but a non-resident. Do they still pay foreign buyer land transfer tax of 15%? Or it doesn’t apply? I’m confused because they …
Utilizing a Parent to Avoid Capital Gains Tax
As parents become elderly, it’s important to realize that they should continue to retain ownership of their property. Oftentimes, it’s thought that simply transferring it directly to the kids or …
Transfer of Property to Avoid Probate Fees
Ontario Let’s assume that Bob and Mary have been married for years and hold title as Joint Tenants. That’s good because it will avoid probate fees (technically estate administration fees). …
Non-Resident Witholding Tax: Tenant’s Obligations
(Ontario) Question: How do you handle the tax witholding provision for non-resident landlords? It’s located in Paragraph 16 of the Form 400 Agreement to Lease. Answer: The Tenant is obligated …
Joint Tenancy Severance and Death
If one joint tenant (A) out of three (A, B and C) sells his share to X, then X becomes tenants in common with joint tenants B and C. Now …
Saving the Deal in the Present Market
Right now, the market prices are headed down. For how long, we don’t know! March 2021, the property was worth $1.5 million. It was then sold in March 2022 for …
Joint Tenancy Severance and Death
If one joint tenant (A) out of three (A, B and C) sells his share to X, then X becomes tenants in common with joint tenants B and C. Now …
Multiple Wills
How Many Wills Do You Need? The answer is probably two. That may come as a surprise to many, but this is an estate planning technique which is helpful in …