Joint Tenancy

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The Cost of Winning, Sort of….

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In my practice, I have been engaged on valuation matters which, on occasion despite the efforts of all those involved, go to trial to have a trial judge settle for the parties. Most trials are expensive and the actual outcome is not always certain, no matter how strong one side of the matter or case might be. It has been my experience that even if one happens to be on….

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Costs, Estate Administration, Estate Litigation, Executors, Joint Tenancy, Property, Uncategorized, Undue influence, Wills

Life Insurance Joint Tenants[1]

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I think it is fair to say that joint ownership of property[2] is one of the most commonly used strategies for property ownership in the context of developing an estate plan.  Like any form of partnership, there are many issues to consider in jointly owning property.  In the context of jointly owned life insurance, there are some specific nuances that must be addressed when dealing with jointly owned life insurance,….

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Insurance, Joint Tenancy

Domestic Contracts After Death

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Interesting things happen when family law and estates collide. Battles over domestic contracts and houses lead to discussions of past mistakes, life experience, and occupation rent. Such was the case in Psarros Estate v Cook. As with many estates litigation cases, the Court was asked to determine a broad range of issues. Three issues in particular should be of interest to estate litigators. The Marriage Contract Mr. Psarros and Ms…..

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Contracts, Estate Litigation, Joint Tenancy, Spouse, Succession Planning

GIFTS – Some Additional Thougths

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Recently, I wrote about the gifting of cash or assets during one’s lifetime as an alternative method of distributing your wealth (beyond what you need to live on comfortably) and possibly avoid taxes (probate, income etc.) at time of death. I suggested that your heirs could use the funds in a manner that will likely cost less tax: For example pay down some personal debt, apply it as a deposit….

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Canada Revenue Agency, Charitable Giving, Estate Litigation, Estate Planning, Family Conflict, Investments, Joint Tenancy, Loans, Philanthropy/Charitable Giving, Probate Tax, Property, Real Estate, Tax Issues, Trusts, Uncategorized

JOINT TENANCY AND PROBATE AVOIDANCE – A QUICK REVISIT

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When developing estate plans for clients with property of a capital nature (real estate, marketable securities being a couple of examples), one of the questions I get asked more often than not is: How can I avoid probate? Can I just put someone else’s name on a document so it transfers to that person when I pass away? Are there any implications? Technically speaking, “putting someone else’s name on a….

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, In the News, Interest, Investments, Joint Tenancy, Probate Tax, Property, Real Estate, Resulting Trust, Tax Issues, Trusts, Uncategorized, Wills

Promises, Promises…or is that Expectations, Expectations?

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This Blog was written by: Gosha Sekhon, LLB A not uncommon occurrence these days finds single adult children residing with an elderly, surviving parent. The parent, more often than not, requires some assistance with their health care, household tasks and the management of their financial affairs. Usually the co-habiting child is single, divorced, widowed and also finds himself or herself in a position where they are the only sibling willing….

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Contracts, Estate Litigation, Family Conflict, Joint Tenancy, Powers Of Attorney and Guardianship Disputes, Uncategorized
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