Independent Legal Advice in Real Estate Transactions

Posted on October 28, 2024 by gg_admin

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WHAT IS ILA AND ITS ROLE IN REAL ESTATE DEALS?

There are situations where one or more people involved in a real estate transaction will be required to obtain independent legal advice prior to the deal closing. Continue reading →

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Estate Assets …

Posted on October 21, 2024 by gg_admin

ESTATE ASSETS – WHAT YOU NEED TO KNOW AND WHEN

When beneficiaries of an estate come to see me, they often are not aware of the extent of the estate assets.

A Will does not usually have the details of the assets in it. There is a good reason for that. If you list the assets in the will, the will has to be changed when assets are acquired or disposed of. Continue reading →

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Basecamp for Law Firm Project Collaboration

Posted on October 14, 2024 by gg_admin

BASECAMP PROJECT MANAGEMENT BRILLIANCE

Basecamp is a web-based project management tool that was created in 2004 by 37 Signals.

Utilizing Basecamp in a legal setting offers many unique opportunities. The one that really excites us at Gilmore and Gilmore is the ability to create projects for each of our clients then invite them to participate. Now rather than having to go back and forth exchanging communications filling our inbox with updated versions of assorted documents, we are able to consolidate the work in one place. Continue reading →

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Accessing Bank Accounts of the Deceased

Posted on October 7, 2024 by gg_admin

BANK OF CANADA – DORMANT ACCOUNTS

If a bank account is not used for a prescribed period of time, the dormant account is transferred to the Bank of Canada. If you want to determine whether or not there are dormant accounts in the name of the Deceased, you will need to contact the Bank of Canada so that they can inform you of the legal documentation they require to process your claim. Continue reading →

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Formal Execution of a Will

Posted on September 30, 2024 by gg_admin

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FORMAL EXECUTION OF A WILL

There are specific requirements in Ontario, set out in legislation called the Succession Law Reform Act (SLRA), that govern how a Will is to be executed in order to make it valid. These requirements are quite rigid and a document that does not comply with them may very well be found to be invalid. Continue reading →

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Ontario Disability Support Program and Inheritance

Posted on September 23, 2024 by gg_admin

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ODSP AND INHERITANCE

How will an inheritance impact your income support from ODSP?

Any money, property or possessions that you receive can affect your eligibility for, or the amount of money you receive from, Ontario Disability Support Program. This includes anything you may inherit from someone who has passed on. Some inheritances will be exempt and will not have an effect on your ODSP eligibility or amount. Continue reading →

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Estate Planning and Separation

Posted on September 16, 2024 by gg_admin

SEPARATION AND THE IMPACT ON ESTATE PLANNING

It is important to review your estate planning upon separation from your spouse. Separation by itself will not have an effect on your Will or the distribution of your estate. Some of the things to consider and discuss with your lawyer are:

  1. You should consider revoking your Will and Powers of Attorney and making new ones right away, and possibly another Will when matters with your spouse are resolved;
  2. If you do not have a Will, you should consider preparing one;
  3. If you own property with your spouse as joint tenants, including your matrimonial home, you should consider the advisability of severing the joint tenancy;
  4. You should consider changing your beneficiary designations for life insurance policies, RRSPs, etc. Continue reading →
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Bequeathing a Farm in Your Will

Posted on September 9, 2024 by gg_admin

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BEQUEATHING A FARM IN YOUR WILL

The transfer of farmland, by sale, gift or other form of transfer, is generally subject to HST unless it falls into one of the exemptions found in Schedule V of the Excise Tax Act. One such exception is found in section 167(2), which determines that:

Continue reading →

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Appointment of Guardians of Children in Your Will

Posted on September 2, 2024 by gg_admin

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GUARDIANSHIP – WHAT ARE THE LIMITATIONS?

Parents who have children under the age of majority will naturally want to provide for them in their Wills. In addition to arranging their inheritance, most parents will want to name a guardian for their children should both parents die at the same time or if a parent is in a single-parent situation. Continue reading →

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Forcing an Executor to Account

Posted on August 26, 2024 by gg_admin

FORCING ACCOUNTS

Executors of an estate are required to disclose the value of an estate and to document as well as explain the accounting of the estate to all beneficiaries.

Beneficiaries of an estate often complain that they are not provided with information concerning the value of an estate or the accounting. In some cases they are asked to “sign off” on the estate without knowing in advance what their share of the estate is and how it was determined. Continue reading →

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