Real Estate

Total 95 Posts

SOME TAX TIPS IN THE COVID ERA

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Our epidemiologists and public heath officers are warning us gently that the dreaded virus will be with us for awhile. Nevertheless, we are all hoping that our economy will recover soon (and to some extent our financial markets have), but it appears asset values in general may be depressed for some time to come. In this context, there may some some opportunities to free up some cash flow and/or reduce….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Real Estate, Small Business, Tax Issues, Uncategorized

Of Love, Resulting Trusts, Matrimonial Homes and Fenelon Falls

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The gratuitous transfer of property from a parent to an adult, capable child may result in a resulting trust…..

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Contested wills, Cottage, Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Joint Tenancy, Property, Real Estate, Resulting Trust, Spouse, Succession Planning, Trustee, Trusts

Estate Planning for the Family Cottage

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Much has been written in this blog space and many others on this topic. Several times a year (in some years more often than others), we are asked in our practice about to advise on succession or estate planning issues for the family cottage. I was recently alerted to a very good article called How to Estate Plan for the Family Cottage by Tim H. R. Brown of Richard, Buell….

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Cottage, Estate Administration, Estate Planning, Family Conflict, In the News, Investments, Joint Tenancy, Real Estate, Resulting Trust, Tax Issues, Trusts, Uncategorized, Wills

Constructive Trust and Proprietary Estoppel – Built With Your Own Hands

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Families often fall into patterns and routines; they are comfortable, stable, and predictable. They can also give rise to legal rights over land. The extent and enforceability of those rights will be put to the test following death or divorce. Such was the case in Tomek v Zabukovec, 2020 ONSC 2930. Joseph Sr. (the “Deceased”) and his wife Mary had two sons, Joseph Jr. (the “Husband”) and Edward. In August….

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Contracts, Estate Litigation, Family Conflict, Property, Real Estate, Spouse

Low- Interest Environment: Time To Take Advantage Again.

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In past blogs, we discussed income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust. Such loans would be used to invest in income producing properties such as marketable securities, mutual funds, real estate income trusts (to name a few). The income from these properties less the interest paid on….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, Interest, Investments, Loans, Property, Real Estate, Small Business, Spouse, Tax Issues, Trusts, Uncategorized

Home Buyer’s Plan and Disabled Family Member

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In a recent blog, I wrote about the availability of Home Buyer’s Plan (HBP) to an individual after the death of her spouse who purchased the matrimonial home. In a recent Technical Interpretation (2019-0819671E5, D. Odubella), the Canada Revenue Agency (CRA) was asked by a taxpayer to review the availability of the HBP to purchase a home that is located in a district where their disabled daughter could attend a….

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Canada Revenue Agency, Dependant Support, Disability, In the News, Real Estate, Spouse, Tax Issues, Uncategorized
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