Every now and then I have a client ask me if they have to close; this is usually days away from the closing date. There are various reasons why people change their minds late in the game, but the end result is the same: it is very difficult to refuse to close with no...
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cesia@wall-arm.ca
The perils of joint accounts
On August 17, I blogged about probate rules and probate tax. It is because of the probate tax in Ontario that many people will set up joint accounts; they are a way to allow assets to pass outside of the estate and therefore outside of probate requirements. However,...
Getting evicted
Andrea Krywonis over at the Ontario Condo Law Blog wrote a post on Wednesday about a case where a condo owner was forced to sell her unit because of extreme bad behaviour toward the other owners and to the condo property. This included physical violence to other...
What happens to your Twitter account when you die?
Most, if not all, of us have some sort of electronic presence, whether it’s a web-based email account, a Facebook profile or a Twitter account. These accounts likely contain a great deal of personal information and connect you to numerous people around the world. Most...
Insuring your lender’s investment
In Canada, whenever you purchase a property and finance more than 80% of the purchase price you are required to purchase mortgage default insurance. This is generally purchased through one of two companies, either Canada Mortgage and Housing Corporation (CMHC) or...
It’s your funeral
I am often asked to place instructions in clients’ wills regarding specifics about their funerals. Many people are quite clear on what type of memorial they would like to have to celebrate their lives, as can be seen in the wills of celebrities such as Gary Coleman...
What exactly are disbursements?
In Ontario, closing costs on a real estate transaction are divided into fees and disbursements. Fees are fixed by lawyers for their time; disbursements are costs that are incurred by the lawyer on the client’s behalf, and are reimbursed by the client on closing....
A little bit divorced
Many people think that separation or divorce automatically revokes a will or leaves their former spouse out of the inheritance rules. This is not the case. If you divorce, your former spouse will not inherit under an intestacy; your will remains valid, though, and...
Buying the farm
Buying a home can be complicated; buying a recreational property can be even more so. Homes outside of urban centres generally are on septic systems and wells, and often use fuel oil or propane for heating. There may be access issues, and rural lots can be more...
What is probate and why do you need it?
A probate order is basically a seal of approval. In Ontario, it is received through an application to the court, and confirms that the will is valid and can be relied on. In order to receive a probate order, the executor or applicant must pay a tax equivalent to...