What Happens When You Die Without a Will

By on Jul 10, 2015 in Wills and Estates

LawPRO, the company that provides professional liability insurance to members of the Law Society of Upper Canada in Ontario has prepared a brief video you may find helpful about what happens when you die without a Will. To view it, please click the following link: Ever wonder what happens when you die without a Will? In addition to the issues set out in the video,...

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Joint Tenancy and Tenancy in Common – How they Differ

By on Mar 11, 2015 in Real Estate Law, Wills and Estates

Real Property can be held in different ways, the main two types of ownership are joint tenancy and tenancy in common. Joint Tenancy Joint tenancy is a type of ownership that comes with the benefit of the right of survivorship. This means where two people own property as joint tenants upon the death of the first joint owner, the property becomes wholly owned by the...

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Executor and Estate Trustee Compensation

By on Aug 8, 2014 in Wills and Estates

Executors and trustees are entitled to be compensated for their work in the administration of estates, as provided in Ontario’s Trustee Act, R.S.O. 1990, c. T.23 (“Trustee Act”), s. 61(1), which says: “A trustee, guardian or personal representative is entitled to such fair and reasonable allowance for the care, pains and trouble, and the time expended in and about...

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Canada/U.S. issues with Powers of Attorney for Property and Canadian Investments

By on Mar 19, 2014 in Wills and Estates

No matter how carefully a Power of Attorney for Property is drafted, appointing a U.S. resident to act as your attorney may result in the attorney being unable to process transactions with respect to Canadian Investments. I recently came across an issue in relation to grantors of powers of attorney for property who are Canadian residents and Canadian citizens with...

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Understanding the Statement of Adjustments in Real Estate Transactions

By on Mar 10, 2014 in Real Estate Law

Below is a sample Statement of Adjustments with explanations for the various items on it. By way of summary, a Statement of Adjustments is used to calculate adjustments in a typical real estate transaction. They are usually prepared by the lawyer for the Vendor and sent to the lawyer for the Purchaser of a property. The purpose of the Statement of Adjustments is to...

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Protecting Your Digital Assets in Your Will

By on Oct 4, 2013 in Wills and Estates

  What are digital assets and why should you care about them when you think about your estate plan? Today, almost everyone maintains a digital presence and it is increasingly common for individuals to have a significant amount of assets and personal information that are stored digitally. Your digital assets include all of your online accounts and digital files...

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Types of Businesses and How A Lawyer Might Help

By on Mar 31, 2013 in Corporate Law

  There are many types of businesses. This article touches on some of the key types of businesses and explains what a might be the typical role of a lawyer in providing advice or assistance to you in setting up your business or in having others join you in your business.   What does a lawyer do, how does a lawyer help with setting up a business?   A...

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Death and Taxes

By on Mar 31, 2013 in Wills and Estates

  It has been said that the only two things we can be certain of are death and taxes. In my experience, there is a lot of misunderstanding about taxation on death. Taxes can impose a significant burden on an estate and where possible, should be considered as part of estate planning and will drafting. There are several types of taxes that arise in relation to...

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