Estate Planning for The Busy Business Owner
Estate planning for a small business involves creating a comprehensive plan to manage and distribute the business owner’s assets upon their death or incapacitation. This process ensures that the business and other assets are transferred smoothly, with minimal legal complications, taxes, and disruptions. What happens to the business? An incorporated business that is not publicly […]
The Vital Importance of a Will: An Ontario Estate Lawyer’s Perspective
When it comes to planning for the future, few documents hold as much significance as a will. Despite its importance, many Canadians—especially those in Ontario—often overlook this critical aspect of estate planning. As an experienced estate lawyer, I’ve seen firsthand the complications that can arise from not having a will. This article aims to highlight […]
The Bare Trust – new guidance from CRA
Commencing with the 2023 taxation year, the Canada Revenue Agency (“CRA”) has implemented new reporting obligations for trusts. This meant that many trusts (including bare trusts) that did not previously have to file tax returns fell under the requirement to do so. However, acknowledging the unintended consequences these new reporting obligations have had on Canadians, […]
Succession Law: Married Spouses and Common Law Partners
Estate law in Ontario, Canada, presents distinct considerations for surviving spouses, whether married or common-law, depending on the presence or absence of a will. Delving into the legal frameworks provided by the Family Law Act (FLA) and the Succession Law Reform Act (SLRA), this article examines the rights of surviving spouses and common-law partners under […]
Succession Law: Marriage, Divorce and Separation
In this blog post, we delve into the nuances of Ontario’s evolving laws concerning wills, marriage, and divorce (please note that common-law partners are not covered in this discussion; you can find information on that topic here). We delve into recent changes, unpack their implications, and provide valuable insights into how they may affect estate […]
Canada s-a alăturat Convenției de la Haga
Pe 11 ianuarie 2024, Convenția de la Haga privind abolirea cerinței de legalizare pentru documentele publice străine, a intrat în vigoare în Canada. Convenția de la Haga este un tratat multilateral, scopul principal al căruia este să faciliteze circulația documentelor publice (de exemplu, certificate de naștere, procuri, diplome etc.) emise de o țară pentru a […]
The Bare Trust
The new trust reporting rules take effect for the taxation year ending after December 30, 2023. The Canada Revenue Agency (“CRA”) now requires trusts to be declared through annual filings if certain criteria are met. Many trusts (including bare trusts) that did not previously have to file tax returns are now required to do so. […]
Considering business incorporation: when is the right time?
Are you considering taking your business to the next level? Incorporation may be the key to unlocking a world of legal and financial advantages. Incorporating, in a business context, refers to the process of legally establishing a company or business entity as a separate and distinct legal entity from its owners or shareholders. When a […]
Encroachments in real estate
In this article, we intend to provide readers with an understanding of the dynamics of encroachments on real estate property and how they may affect your property. Furthermore, this article will provide information regarding different measures that you can take to resolve this problem. In real estate, encroachment occurs when another property owner (usually a […]
Mortgage Fraud in Ontario
Since COVID-19, fraud has skyrocketed in Canada. One story reported by CBC in 2023 showcased how deception can be used in mortgage transactions. The following case summary will involve Yan Ting “Tina” and Po Yuk Chan “Peggy.”[1] Peggy and Tina met at a Thanksgiving dinner shortly before the outbreak of the 2019 pandemic. Tina had […]