A cohabitation agreement is an agreement signed by two unmarried individuals who are living together or intend to live together in the future. When a couple decides to live together, a cohabitation agreement can clearly set out the rights and obligations of each party, either in the event of a breakdown of the relationship or upon the passing of one of the partners.
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What Is Power of Sale?
With new mortgage rules and fluctuating rates, this has caused people to look at their mortgage and lending options. While there appears to be an increasing number of available lending sources entering into the market, there have also been agreements that have been forced into Power of Sale situations. So, what is Power of Sale, and how can one avoid it?
Duties of an Estate Trustee Checklist
Handling the affairs of a loved one's estate can be a complex and overwhelming responsibility. As an estate trustee, you are entrusted with the important task of ensuring the smooth administration of the deceased's estate, adhering to the legal obligations and fulfilling the wishes of the deceased as expressed in their will.
To assist you in navigating this intricate process, this checklist serves as a comprehensive guide to the duties and responsibilities that fall upon an estate trustee in Ontario. By following this checklist, you can systematically manage the estate administration process, while ensuring compliance with the relevant laws and regulations governing estates in Ontario.
Duties of an Estate Trustee
When a loved one passes away, their affairs need to be properly managed and settled. In Ontario, an estate trustee plays a vital role in ensuring the smooth administration of an individual's estate. Also known as an executor or personal representative, the estate trustee is entrusted with the responsibility of carrying out the deceased person's wishes as outlined in their will. This introductory guide aims to shed light on the duties and responsibilities of an estate trustee, providing a comprehensive understanding of their role in the estate administration process.
How Carson Law Works On Your Real Estate Purchase File
At Carson Law, we believe in a team-based approach, so you will interact with a few key players based on where your file is in processing. There is a lot of backend work that goes into successfully closing your real estate purchase. Understand our process from owner and president, Ryan Carson, so we can all work together to achieve a smooth closing.
How Carson Law Works on Your Real Estate Sale File
At Carson Law, we believe in a team-based approach, so you will interact with a few key players based on where your file is in processing. There is a lot of backend work that goes into successfully closing your real estate sale. Understand our process from owner and president, Ryan Carson, so we can all work together to achieve a smooth closing.
What is a Secondary Will?
A Secondary Will can be a financial planning tool, some homeowners and business owners, mostly in Ontario and British Columbia, use to help reduce the amount of Estate Administration Tax (EAT) that needs to be paid after ones passing to ensure more of their assets end up with their survived family and friends.
Understanding The Closing Costs When Buying a Pre-Construction Condo
Purchasing a condominium is an exciting milestone, but amidst the anticipation, it's crucial to consider the financial responsibilities that accompany this significant investment. One aspect that potential condo buyers in Ontario must be aware of is the concept of closing costs. These expenses, separate from the purchase price, can add up significantly and should be factored into your budget. In this article, we will delve into the details of closing costs associated with buying a pre-construction condo in Ontario, providing you with a comprehensive understanding of what to expect and how to plan accordingly.
The Risks of Choosing the Same Closing Date when Buying and Selling Real Estate
Most people believe this to be the best approach with regard to making other arrangements around their closing such as scheduling movers, contractors, etc. However, there are a few other things individuals in such a situation should consider before arranging to buy and sell real estate on the same business day.
Different Types of Trusts
Trusts play a crucial role in estate planning, offering various benefits and options for individuals to protect and manage their assets. The primary purpose of a trust is to ensure that assets are handled according to your wishes and distributed efficiently to the indented beneficiaries. Trusts also provide opportunities to minimize taxes, avoid probate, maintain privacy, and offer flexibility in managing your estate.
Key Reasons Why You Should Consider Using A Trust In Your Estate Planning Strategy
Estate planning is a crucial process that ensures the smooth transfer of assets and protects the financial interests of both the current and future generations. While there are various tools available for estate planning, one option that stands out is the establishment of a trust. A trust offers numerous advantages that can greatly enhance the effectiveness and efficiency of any estate plan. In the following blog are some key reasons why you should consider using a trust in your estate planning strategy.
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What You Should be Prepared For on Closing Day and How To Avoid Problems
Closing day in real estate is when the title of the property is officially transferred over from the seller to the buyer.
While there is a lot that goes on behind the scenes at the law firm handling the transaction, this blog post will help to answer what exactly is happening and how to best prepare for the big day!
Are You Buying & Selling Real Estate With the Same Closing Day? Know the Risks
Most often believe this to be the best approach with regard to making other arrangements around their closing such as scheduling movers, contractors, etc. However, there are a few other things that individuals in such a situation should consider before arranging to buy and sell real estate on the same business day.