I have two young children, and my husband and I started a family RESP when our first child was only a few months old. Education is much more expensive these days than when we went to university, and will likely be even more so by the time my kids go, so saving and...
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cesia@wall-arm.ca
Are you a first-time buyer?
It seems like it should be a simple question: if you’ve never personally bought a house, you should qualify, right? Unfortunately, it’s not so simple. If you live in a home that your legally married spouse owns, you no longer qualify. Same if you are common law (in...
Silence is not golden
If you have a power of attorney for personal care, you have the option of listing specific instructions in it. These can be things like whether to donate your organs, your preference for care in a facility vs. in your home, or even end of life care. The general rule...
Always budget for your property taxes
Final tax bills are starting to come out in Simcoe County. Here’s a little known fact: if you don’t pay your property taxes, your city can sell your house in order to collect them. When I was a law student, I prepared tax deeds for people buying these properties....
Don’t want your estate to be sued? It helps to use a lawyer
Over the coming years, there is going to be a massive transfer in wealth between generations. While the majority of people don’t have wills and their estates will therefore be transferred in accordance with the default rules, a large minority do have wills and expect...
Don’t forget about other costs when shopping for a house
Short and sweet today: When thinking about the cost of a home, remember to be aware of more than just mortgage payments. You will need to pay taxes, house insurance, and utilities, and you should always budget for repairs and emergencies. When calculating whether you...
Anthony Bourdain: No reservations, and no updated planning
Anthony Bourdain tragically died by suicide recently. Also tragic: he did not update his estate plan after his separation, which means that his estranged wife will be managing his estate. Perhaps this is what he wanted, trusting that she would manage things...
Happy Canada Day!
We wish you all a very happy Canada Day and hope you are able to enjoy a relaxing long weekend.
As far as your estate goes, stepchildren are not, legally speaking, children
I have had many clients over the years who have spoken about their children, and only after digging down do I discover that they are the client’s stepchildren, never formally adopted though often raised by the stepparent from a young age. The problem? Legally...
Co-signed
With the mortgage rules changing almost daily these days, it is becoming increasingly difficult to qualify for financing. As a result, many young and first-time buyers are turning to parents or other relatives to co-sign the mortgage in order to get that approval. As...