Category Archives: Featured

ARE BANK ACCOUNTS PART OF THE ESTATE ASSETS? It is not uncommon for parents to make their bank accounts joint with one or more of their children. This is particularly so when the parents are quite elderly. When an account … Continue reading →

GETTING OUT OF A REAL ESTATE DEAL The decision to purchase or sell a home is not one that should be taken lightly. An Agreement of Purchase and Sale, the standard agreement entered into during a real estate transaction, is … Continue reading →

EQUALIZATION AFTER DEATH OF SPOUSE IS AN OPTION A Spouse has options to ensure that they receive appropriate financial support from the Estate of their deceased Spouse.  When a spouse dies, the surviving spouse does not necessarily have to accept whatever … Continue reading →

BUYER FAILS TO CLOSE REAL ESTATE PURCHASE The Ontario real estate market experienced a significant correction in the spring of 2017 with the foreign buyer 15% tax imposed by the provincial government for GTA properties and the new Mortgage Stress … Continue reading →

ESTATE PROPERTY MAY “VEST” 3 YEARS AFTER THE DATE OF DEATH As a general rule, real estate that has not been transferred by an Executor / Estate Trustee of the Estate will “vest” in the beneficiaries of the Estate 3 … Continue reading →

WHAT TO DO WHEN THERE ARE MORE DEBTS THAN ASSETS IN AN ESTATE What does an executor do if the debts of the estate exceed the assets? First of all, the executor (estate trustee) is not required to assume the executor … Continue reading →

“UNVESTING” REAL ESTATE  NOT TRANSFERRED WITHIN 3 YEARS OF DEATH If property has vested because it has not been dealt with by the Executor / Estate Trustee within 3 years of the date of death there are options available to … Continue reading →

IT IS IMPORTANT TO ENSURE YOU HAVE A GIFT CLAUSE IN YOUR WILL If your Will leaves specific items to someone, you should ensure a gift clause says what is to happen if that person should predecease you. If you … Continue reading →