by Monica BeffaDO I NEED A LAWYER TO DRAFT MY WILL?
Planning for your end of life is not something comfortable to do, and that’s why many people don’t get around to drafting their Will. Almost half of all Canadians don’t have a Will in place, which is a surprising statistic given the importance of having a will. So why is important to have a Will? And if it’s that critical, do you really need a lawyer to...
by Monica BeffaObtaining a Temporary Resident Permit in Canada
Often referred to as a TRP, a temporary resident permit allows someone to be granted access to Canada if they are inadmissible – ineligible – for a specific reason. Those who seek to obtain a TRP usually do so due to medical or security reasons, and having an established criminal record is another common reason. Without this permit, you won’t be permitted...
by Monica BeffaSeparation Agreements: Save Money and Keep it Private
A divorce is a stressful experienceto go through, even when there is an understanding between the parties. Couples must divide fairly the matrimonial assets that they have accumulated in the time spent together, such as joint bank accounts, real estate properties, and pensions. They also have to settle on matters related...
by Monica BeffaWhy do I need a Real Estate Lawyer?
There are many people involved even in the smallest real estate transaction. Most people are wondering why they need to pay one more, especially a real estate lawyer. The truth is that you cannot afford not to be represented by a real estate lawyer in a purchase or sale transaction, whether you are the buyer or the seller. There are plenty of reasons why...
by Monica BeffaINCORPORATING A PERSONAL REAL ESTATE CORPORATION OR “PREC”
A PERSONAL REAL ESTATE CORPORATION (“PREC”) gives Real Estate Agents (“Realtors”) the ability to utilize the benefits of incorporation. Recently, Bill 104, the Tax Fairness for Realtors Act, has been passed to permit a PREC to be registered as a broker or salesperson. A PREC can be considered a broker or salesperson provided that the owner of the PREC’s voting shares has the...
by Monica Beffa7 CELEBRITIES WHO DIDN’T LEAVE A WILL
(Intestate = without a will) 1. Abraham Lincoln- Lawyer, President of the United States Age at the time of death: 56 As the 16th president of the United States and a lawyer, some would be shocked to find out that Abraham Lincoln has not drawn a Will before he died. After his assassination in 1865, President Lincoln’s intestate estate was valued at $110,300 and was divided among his wife...
by Monica BeffaThree Things You Need to Know About Taxes At Death
1. There is no inheritance or death tax in Canada In Canada, there is no inheritance or death tax levied on the beneficiaries; the estate pays any tax that is owed to the government. If you are the beneficiary of money or assets through an estate, you inherit the money tax-free, i.e. the tax has already been paid by the estate. You do not have to add inheritance to your income tax return. 2....
by Monica BeffaFAQs for a Real Estate Purchase
When should I contact a Real Estate Lawyer regarding purchasing a home? As soon as possible. Once our firm is involved, we can start working to protect the purchaser’s interests. When it comes to buying and selling real estate, the details are important. A fact or item incorrectly set out, or completely overlooked in...
by Monica BeffaThe Curious Case of Jeffrey Epstein’s Wealth, Death, and Estate
It’s not clear whether Epstein had a Will, and even if he had one, it probably wouldn’t have made the case any easier. But, for the rest of us, ordinary people, having a Will is always a good idea.
by Monica Beffa