Trusts play a crucial role in estate planning, offering various benefits and options for individuals to protect and manage their assets. The primary purpose of a trust is to ensure that assets are handled according to your wishes and distributed efficiently to the indented beneficiaries. Trusts also provide opportunities to minimize taxes, avoid probate, maintain privacy, and offer flexibility in managing your estate.
Key Reasons Why You Should Consider Using A Trust In Your Estate Planning Strategy
Estate planning is a crucial process that ensures the smooth transfer of assets and protects the financial interests of both the current and future generations. While there are various tools available for estate planning, one option that stands out is the establishment of a trust. A trust offers numerous advantages that can greatly enhance the effectiveness and efficiency of any estate plan. In the following blog are some key reasons why you should consider using a trust in your estate planning strategy.
Tax Credit Available for Multigenerational Home Renovations
It's Not Good To Have An Outdated Minute Book In Ontario.
Dealing With Commercial Real Estate? Here Are Some Important Terms You Should Know
What You Should be Prepared For on Closing Day and How To Avoid Problems
Closing day in real estate is when the title of the property is officially transferred over from the seller to the buyer.
While there is a lot that goes on behind the scenes at the law firm handling the transaction, this blog post will help to answer what exactly is happening and how to best prepare for the big day!
Are You Buying & Selling Real Estate With the Same Closing Day? Know the Risks
Most often believe this to be the best approach with regard to making other arrangements around their closing such as scheduling movers, contractors, etc. However, there are a few other things that individuals in such a situation should consider before arranging to buy and sell real estate on the same business day.
Will These New Rules Increase Hamilton's Affordable Housing Supply?
Top 5 Ways To Avoid Title Fraud
New Anti-Flipping Rules
As of January 1, 2023, new legislation came into effect that may impact you. If you have purchased a property you are now looking to sell within the last 12 months, you may be impacted by this new legislation. To ensure you are aware of what your obligations are, we are recommending that you seek advice on your upcoming transaction from a professional accredited accountant.
Temporary Ban on Foreign Buyers as of January 1, 2023
What is a Secondary Will and When Would I Need One?
A Secondary Will can be a financial planning tool, some homeowners and business owners, mostly in Ontario and British Columbia, use to help reduce the amount of Estate Administration Tax (EAT) that needs to be paid after ones passing to ensure more of their assets end up with their survived family and friends.
What happens when you die without a Will in Ontario?
Thinking about being a Landlord?
Amendments to Canadian Patent Rules
The Difference Between a Deposit and Down Payment
Chattels vs Fixtures
One of the most common questions that clients have with regard to a real estate Agreement of Purchase and Sale pertain to what household items can be categorized as either a chattel or a fixture. Read this article to understand how to define these two items within the Agreement of Purchase and Sale.
Land Transfer Tax Refund for First-Time Homebuyers
With a shift in the market, it’s important for first time home buyers to know all the details of purchasing a home, especially Land Transfer Tax (LTT). The Land Transfer Tax is charged by the provincial government’s Ministry of Finance whenever a person buys or acquires an interest in a piece of land in Ontario, except in a few special circumstances. The tax applies to every method of conveying land ownership, whether the land is purchased, gifted, or obtained through other means.
All About Cohabitation Agreements
A cohabitation agreement is an agreement signed by two unmarried individuals who are living together or intend to live together in the future. When a couple decides to live together, a cohabitation agreement can clearly set out the rights and obligations of each party, either in the event of a breakdown of the relationship or upon the passing of one of the partners.
