Real Estate | All About Estates

Which Comes First: Preferential Share or Mortgages?

Angela Casey • January 19, 2016

The Succession Law Reform Act (“SLRA”) provides that if a married person dies intestate, the first $200,000 (called the “preferential share”) of the deceased’s net estate goes to the married spouse[i]. Any funds remaining after the payment of the preferential share is shared among the spouse and children. In Re Estate of Richard Lewis Crane (“Crane”), the deceased died intestate. He left a second wife and two sons from a previous marriage. The….

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Estate Administration, Estate Administration and Probate Applications, Real Estate, Spouse, Succession Planning

FLYING SOUTH FOR THE WINTER

Corina Weigl • January 15, 2016

As winter finally sets in for us Canadians and our Canadian snowbirds begin to head south, we often see an increase in interest among our clients with the concept of owning a home in the southern USA. While the Canadian dollar may make this somewhat unattractive at the moment and perhaps for the foreseeable future given some recent forecasts, there will always be deals to be had and emotional decisions to be made. As a result, I take this blog as an opportunity to remind readers of the implications of owning a US vacation property…..

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Estate Planning, Real Estate, United States, US Taxes