Ryan goes over the common types of associated taxes with estate administration. They are:
- Final tax return
- Probate tax
- Capital gains tax
Episode #25 - Can I update my Will whenever I wish?
Ryan discusses when Wills should be updated and the circumstances you may find yourself in that would require this update.
Episode #26 - Who can be an executor?
How do you choose a proper executor for your estate? What kind of responsibilities and powers will this person have? Choosing a executor can require a lot of time and thought to ensure that your estate, and all administration duties associated, will be properly looked after.
Carson Law can help you with this decision and answer any and all questions you may have about this process.
Episode #27 - If I become married or divorced, does that affect my current Will?
Whenever a change happens in your life concerning a spouse, it's important to have your will reviewed or redone.
Episode #28 - Should I incorporate when buying real estate investments?
There are many different structures and options to incorporate. The first step is to sit down with your lawyer and accountant to see if incorporating is the right decision for you.
At Carson Law we are happy to discuss this with you in a free 30 minute consultation.
Episode #29 - What do I need to bring with me to set up a JV agreement?
This week we are helping you out with putting together a Joint Venture (JV) agreement for a real estate investment transaction.
Needed from JV1 (party 1) and JV2 (party 2):
- All the parties involved (individual names or corporations)
- Properties involved in the JV agreement
- Roles and responsibilities of JV1 and JV2
- The buy in or monetary investment towards the deal - Expectations and ROI for the eventual maturity of the agreement
Episode #30 -What is the minimum bar to set up a corporation?
When it comes to this topic, it is a good idea to get the opinion of your accountant who will be helping you with your tax planning. There are a few different strategies to consider from the tax and insurance side to see if you are able to incorporate.
Episode #31 - The process for setting up an operating or holding company?
When setting up either one, two or multiple corporations with different structures, the same process/information worksheet is used. We do need to be aware of who your accountant is to make sure we are creating the best option for your tax planning purposes.
Episode #32 - When does a real estate lawyer need to be involved in my transaction?
This week Ryan is answering a common question we get asked at the firm.
As with a lot of items, the earlier the better! This way there is time to have more eyes on this important document in case anything was missed or additional considerations need to be added from a legal perspective.
Episode #33 - What is Intellectual Property?
This week we are giving Ryan a break from Ryan's Ramble!
We have Erika Warren who is one of the Intellectual Property Lawyers here at Carson Law. Erika will be going over the basics of exactly what intellectual property is and how to protect it.
In this video, Erika shows us some examples using the Canadian Intellectual Property Database to help us understand everything that is out there.
Episode #34 - Considerations when investing in private loans
Thank you very much to Peter Galopoulos for submitting this question about private lending.
First steps would be to make sure you have an accurate, up to date mortgage commitment agreement and term sheet. With private lending, security is always a question. The lender would receive the Registered Charge, Mortgage Commitment Contract and Priority in position on the registered property.