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logologo

647.812.8462

  • ABOUT
  • WHAT WE DO
    • REAL ESTATE
    • WILLS & ESTATES
    • IMMIGRATION
    • FAMILY LAW
    • BUSINESS
    • NOTARY SERVICES
  • LEGAL FEES
  • BLOG
  • CONTACT
logologo

647.812.8462

  • ABOUT
  • WHAT WE DO
    • REAL ESTATE
    • WILLS & ESTATES
    • IMMIGRATION
    • FAMILY LAW
    • BUSINESS
    • NOTARY SERVICES
  • LEGAL FEES
  • BLOG
  • CONTACT
by Monica Beffa

KING CHARLES III AVOIDED PAYING INHERITANCE TAX FOR THE QUEEN’S ESTATE. CAN THE INHERITANCE TAX BE AVOIDED?

As news of the death of the longest reigning monarch of the United Kingdom, Queen Elizabeth II, spreads across the globe, many began to raise questions regarding the disposition of her massive wealth and assets.

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BLOG, News, Wills and EstatesSeptember 22, 20220 comments
by Monica Beffa

THE ROLES AND RESPONSIBILITIES OF ESTATE TRUSTEES IN ONTARIO

Sometimes the responsibility of being the trustee may fall on you. If you have been named as an estate trustee, or are considering taking on this role, there are a few things you should know.

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BLOG, News, Wills and EstatesSeptember 20, 20220 comments
by Monica Beffa

Bill and Melinda Gates: A High-Profile Modern Divorce

Bill and Melinda Gates: A High-Profile Modern Divorce – breaking it down, and lessons learned for your separation agreement

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BLOG, Family, Wills and EstatesJuly 6, 20220 comments
by Monica Beffa

Why do you need an estate plan?

You want your assets to be divided clearly and fairly between family and friends; you need an estate plan, and now is the best time to start.

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BLOG, Wills and EstatesJanuary 19, 20221 comment
by Monica Beffa

DO 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 help you, or can you just do it yourself?

The importance a lawyer helping you to draft your will and make sure it will be held as valid cannot be understated. While using online software or drafting your Will yourself might seem like a time and money saver, either process could lead to unintended consequences.

 

Why Is Having a Will Essential?

Having a Will ensures that your property, your money and your belongings in particular, go to the people you want them to go to, and in the way you want them to receive them.

Below are just a few of the consequences for not having a Will.

 

  1. Your assets might not go to the people that you intended.

 

  1. The legal costs for the people dealing with your estate will increase.
  2. Your assets can be tied up in litigations for years before they are distributed.
  3. It can be very costly for your loved ones to administrate your estate.

An online Will software which allows you to draft your Will yourself might seem attractive, because this type of software is inexpensive when compared with hiring a professionally trained lawyer. However, no self-drafted Will can measure up to a Will drafted by a lawyer with years of legal experience. Lawyers know that even small errors or omissions can become extremely costly in the future and may have to be settled by the court, and they know how to mitigate the risk of that happening. The money you save by using an online software will be insignificant compared with the thousands of dollars in legal fees that your relatives might incur in order to settle disputes and clarify your wishes in court.

Additionally, if part of your estate is not distributed in your Will, the governing statute in your province will decide who will receive the rest of your estate and who will manage it. A large share might go to your spouse, and then the rest will be split between your children or any other descendants. This statutory distribution often causes legal disputes, which are pricey, time-consuming, and can drive a wedge between family members. Statutory distribution may also go against your wishes.

Having a clear and well-drafted Will formulated by an Oakville lawyer can help avoid these complications.

 

How can a Lawyer Help?

An Oakville estate lawyer will ask the necessary questions about your intentions for your property and the people you want to inherit it. This will result in a Will that is clear and leads to the results you intend. When using online software or when otherwise writing your Will yourself, you may not get the same tailored approach. The years of experience that an attorney brings ensure that you are not leaving out important details regarding your properties, details that may potentially create distribution problems for your loved ones.

Not to mention that ensuring compliance with Ontario legislation and therefore the proper execution of your will requires a lawyer with local experience, like those at Beffa Law, drafting and advising you on your Will and estate planning.

Your lawyers will make sure that your intentions are clearly stated in your Will and they are carried out precisely and as expediently as possible. They will also help reduce the taxes your loved ones may face after your death, and reduce the roadblocks to your loved ones receiving their inheritance.

 

How Beffa Law can Help You

Planning for your family’s future is extremely important. Beffa Law estate lawyers will sit down with you and assess your situation. You will receive personalized legal advice regarding the best course of action for your individual needs. From Wills and Powers of Attorney to trusts and asset protection planning, our lawyers provide legal advice that helps you minimize tax burdens and efficiently organize your affairs.

With the modern reality of blended families, common-law relationships, business interests, investments, charitable giving, dependents with disabilities, and recreational properties, it is even more important to have a lawyer assist you in drafting your Will and clarifying your intentions.

We can help you with the following estate services:

  • Will drafting and execution
  • Powers of Attorney and Living Wills
  • Special Powers of Attorney
  • Estate planning
  • Personalized Legal Advice

Our team believes that investing time and effort into creating well-prepared estate planning and ongoing monitoring will give anyone peace of mind, regardless of age or marital status.

Get in touch! Beffa Law would be pleased to assist you in this important area of law. To schedule an appointment, please contact us at 647-812-8462 for a no-obligation consultation. You can also email us at info@beffalaw.ca.

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BLOG, Wills and EstatesMay 19, 20211 comment
by Monica Beffa

7 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 and his two sons. Lincoln’s estate would be a few million in today’s dollars.

2. Martin Luther King, Jr.- Civil Rights Activist- Nobel Prize medalist

Age at the time of death:56

Dr. Martin Luther King, Jr. known was a well-known activist who faced death threats, so, it is unexpected that he did not have a Will signed. Although Dr. King was assassinated in 1968, his family is still fighting these days over his estate. Recently, King’s children started another fight in court over King’s Nobel Peace Prize medal and personal traveling Bible.

3. Jimi Hendrix – Songwriter/Singer

Age at the time of death: 27

Jimi Hendrix died in 1970 without leaving a Will. The estate litigation went on for more than 30 years. Hendrix’s estate went to his father, Al Hendrix, after a court dispute with two alleged out of wedlock children. After Al Hendrix died, Hendrix’s siblings had been fighting in court over the control of the singer’s $80-million estate. The Court endorsed Al Hendrix’s Will, but the siblings continued fighting over the use of the singer’s image.

4. Bob Marley – songwriter, singer

Age at the time of death: 36

It may amaze you that famous reggae songwriter and singer, Bob Marley, who was diagnosed with cancer in 1977 and died four years later at 36 did not have a Will. Bob Marley’s estate continues to produce income, earning more than $20 million between 2013 and 2014.

Under Jamaican law, Marley’s estate was divided among his wife and 13 children. As a result, Marley’s widow, Rita, received only 10 percent of his assets. Thirty years after Marley’s death his heirs were still litigating over the singer’s estate.  After many years of court battles, Rita and Marley’s family received Marley’s name and likeness. The Estate of Bob Marley is strongly defending the commercial use of Bob Marley’s likeness, songs, and intellectual property. Just recently, the Marley’s Estate sued Bob Marley’s half-brother, Richard Booker, for giving Jamaican tours and coordinating music festivals using Bob Marley’s name.

5. Amy Winehouse – singer/songwriter

Age at the time of death: 27

The British singer, Amy Winehouse, died in 2011 as the result of alcohol poisoning. Originally, the press reported that Winehouse left a Will, however, British court decided that the singer’s $4.66 million fortune was allocated to her parents. Her ex-husband, Blake Fielder-Civil, was not a beneficiary.

In “Amy”, the Oscar-winning documentary about Winehouse, the singer is presented as having a very heated relationship with her father who was called in the documentary a “misleading” person.

6.Prince – singer

Age at the time of death: 57

The celebrity singer died in April 2016 after a five-decade career and seven Grammy Awards trophies. Prince’s estate was evaluated at $300 million at the time of his death. Surprisingly, Prince did not leave a Will.

Without having a will in place, different people came out and alleged to be his previous wife, children, siblings, or relatives. In May 2017, after a year of court fights, a judge ordered that there is no Will for Prince and that Prince’s sister and five half-siblings were the right beneficiaries of the fortune.

7. Michael Jackson – Singer/Songwriter

Age at the time of death: 50

Jackson’s family initially thought that he died intestate. Immediately following Jackson’s death in July 2009, his mother filed documents in court claiming that Michael did not have a Will.

However, later, a Will was discovered, being executed 7 years before the pop star’s death.

Jackson appointed his lawyer and music executive as administrators of his estate, his mother as a guardian to his children, and a beneficiary of a trust, and his sister, singer Diana Ross, was named an alternate guardian for Jackson’s children and their estates.

Jackson’s estate produced over $242 million in the past and continues to generate great revenue.

WHAT WE LEARNED

  • Without a will, a messy estate will be left behind.
  • Estate lawsuits can take years to be decided.
  • The law will dictate who gets what vs. what the person would have chosen had he /she taken the time to execute a Will
  • Family may not be able to divide the estate without filing a lawsuit
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BLOG, Commentary, Wills and EstatesAugust 24, 20201 comment
by Monica Beffa

Three 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. There are estate taxes payable on death 

The key taxes payable on death in Ontario by the estate are:

  • Estate Administration Tax (i.e. Probate Fees): While there is no “death tax” in Ontario, your estate will have to pay an “Estate Administration Tax” (i.e. Probate Fee) to the Ministry of Finance.  This tax is calculated based on the total value of all assets owned by the deceased at the time of death that will go through the probate process in court. This tax is about 1.5% of the value of the estate.
  • Income taxes due for the year of death: These are the personal income taxes of the deceased.
  • Income taxes for any trusts (i.e. the estate from the time of death until distribution): These are income taxes payable on income earned by the estate.
  • Tax on Capital Gains: You are deemed to dispose of all capital property at death.  Your estate must cover the tax on any capital gains.
  • Tax on Tax-Shelter Savings plans: Registered plans such as RRSPs and RRIFs can be transferred tax-free to your spouse’s plan. If you do not have a spouse, these savings are fully taxable at your death.

3. You can avoid paying the “death” taxes

You can avoid paying taxes on death by arranging your finances and property with the help of an estate lawyer.

Leave A Valid Will

That probably means setting up a meeting with a lawyer.

Without a will, the courts decide who gets what according to the laws in the Province of Ontario, rather than according to your wishes. This can be a more complicated process, with higher legal fees and the potential for costly legal disputes.

Designate A Beneficiary

When you buy life insurance or open an RRSP, you can name a beneficiary to receive the money when you die. This means the money bypasses the estate process and is paid directly to the beneficiary. Because it does not form part of your estate, the money is not subject to probate fees and there is no delay in your beneficiaries receiving the money.

Jointly Own Property

Holding assets jointly with another person is another strategy for reducing probate fees. Joint assets pass automatically to the surviving joint owner and are generally not considered part of your estate and subject to probate fees. Married couples’ titles to homes, bank accounts, and other financial assets are often held this way.

Plan and Prepay Your Funeral

Planning and prepaying your funeral remove a major expense that your family or estate must cover upon your death. When you prepay, the money goes into a trust account or insurance fund until your funeral. This way you control your costs as you choose the type of funeral you want in advance. You will also save your family from the difficult job of making decisions during a time of sorrow.

Buy Permanent Life Insurance

Life insurance proceeds can be paid to your estate to cover estate costs or left directly to a beneficiary to provide additional amounts to a specific person. These proceeds are paid tax-free.

You can also consider a permanent insurance policy for estate planning purposes which covers you for life, no matter how long you might live. Term insurance does not.

Multiple Wills

Another planning technique involves the use of “multiple wills.”

As part of this arrangement, the lawyer will prepare two wills: a primary and a secondary will. In the primary will, the testator deals with all his or her assets other than shares of private family corporations, loans, or other amounts receivable from those corporations, and other assets for which probate is generally not required. These specific assets are dealt with in a secondary will. However, the lawyer drafting the wills must ensure that one Will does not accidentally revoke the other Will and that the Will for probate meets provincial requirements.

 

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BLOG, Finance, Wills and EstatesMay 21, 20201 comment
by Monica Beffa

The 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.

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BLOG, News, Wills and EstatesAugust 13, 20191 comment
by Monica Beffa

ESTATE PLANNING

Majority Canadians do not have a will – the most basic estate planning step. They should.

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BLOG, Wills and EstatesMay 4, 20191 comment
by beffalaw_a0hv81

WHY DO I NEED A WILL?

If making a will has been always on your to-do list, but you keep postpone it because it is unpleasant, you’re not alone. Studies show that 74% of Canadians don’t have an up-to-date Will, and about 50% of Canadians don’t have a Will at all.

I understand that. Making a will require you to imagine your death which it’s a taboo subject that most people try to avoid.

Dying without a will (intestate) can be more problematic than you realize for the family you leave behind.

  1. Without a will, you cannot exclude or include the beneficiaries.

Your property will be divided according to the law among your spouse, parents, children and siblings, which may be different from how you would have divided it.

  • If you don’t have children, your spouse inherits the entire estate.
  • If you have children, your spouse may inherit everything or the first $200,000 and the rest of your assets may be split equally among the family members.
  • If you don’t have a spouse, your estate is distributed to other relatives.
  1. You are unable to take advantage of tax savings after your death.

If you plan your estate, you can reduce the tax paid by your estate to increase the assets available to your family. You would be amazed how little a Will costs comparing with the costs associated with the estate matters.

  1. There is no opportunity to choose guardians of your minor children. The Public Guardian (government) may take decision about your children’s personal lives.
  2. Your children may not receive the assets you wanted them to receive and you lose the opportunity to provide a trust for them. When your children reach the age of majority, they will receive all the funds whether or not you have chosen that option.
  3. The Public Trustee is involved in the administration of your children’s share of estate. The government will decide the financial future of your children and will take a portion of your estate, as their fee.
  4. Without the will, you don’t have an executor. The closest relative will be appointed by the court to act as the administrator of your estate. Is if your closest relative the best person to manage and distribute your estate? This involves delays, expenses, frustration and potential loss.
  5. If you have no living relative (next of kin), your entire estate goes to the Ontario government.
  6. Common law partners or same sex spouses may not inherit anything from your estate upon your death.
  7. You lose the opportunity to provide your funeral and burial preferences. If you do not have a Will, your appointed personal representative will make funeral and burial arrangements based on their preferences, not yours. Studies show that 60% of Canadians do not have funeral arrangements.
  8. Your preferred charities won’t receive anything.
  9. Certain assets that you may have wanted to be kept for your family’s security or investment purposes may have to be sold.
  10. In the event of common disaster, your estate may go to a relative that you don’t like or you’ve never spoken to.
  11. A family business may not be able to stay in your family and may be necessary to liquidate the business’ assets.

WHY USE A LAWYER?

The question is, in this age of technology and information, should you hire a lawyer to help you draft your Will, or should you find some forms online and DIY?

There are situations where a DIY Will might be the right choice for you. However, you must understand the implications when you decide to draft your own Will. You must understand that you are drafting an important legal document without any legal advice or guidance.

When should I hire a lawyer?

You may need a lawyer if:

  • You are married
  • You have children
  • You owe a home
  • You have more than $25,000 investable assets, including retirement funds
  • You have assets overseas like a holiday home
  • You run a business and you expect it to form a part of your estate
  • Your family position is complicated – perhaps you have children with a previous partner, or you want to make special arrangements for children or a family member with a disability

Benefits of using a lawyer

A lawyer can:

  • help you make sure your will is valid
  • make sure your Will conforms to legal requirements
  • help ensure your Wills is complete
  • give you advice to reduce the risk of challenges to your will
  • help you accurately list down properties you can dispose of in your will
  • deal with the complicated legal issues and help you make the most effective choices.
  • safely store the original Will for you in a fireproof safe free of charge

What to expect from your lawyer

Your lawyer will:

  • explain your options to help you make decisions about your will
  • give advice that’s confidential and puts your best interests first
  • write and check your will according to your instructions.
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Wills and EstatesSeptember 5, 20181 comment

Services


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Contact Us:


Phone: 647.812.8462 Fax: 647.697.2424 Email: info@beffalaw.ca

Visit Us:


231 Oak Park Blvd Suite 301, 3rd Floor Oakville, ON L6H 7S8
Copyright © 2021 - BEFFA LAW
All the information presented on this site must be regarded as general information and  not legal advice. Every case is different, so please contact us to assess your particular situation. A solicitor-client relationship will be established only after we’ve determined that there is no conflict of interest.
12 Days of Christmas - Official Rules

Beffa Law’s 12 Days of Christmas Giveaway – Official Rules

NO PURCHASE NECESSARY TO ENTER OR WIN

Participation constitutes the entrant’s full and unconditional agreement to and acceptance of these Official Rules. Beffa Law’s 12 Days of Christmas giveaway submission period commences at 7:00 a.m. EST on December 12, 2022, and ends at 11:59 p.m. EST on December 22, 2022, with the final winner announced on December 24, 2022. The contest is sponsored by Beffa Law.

  1. Eligibility: Beffa Law’s 12 Days of Christmas giveaway is open only to legal residents of Ontario who are 18 years of age or older. Entrants must also be Canadian citizens or Permanent Residents who reside in Ontario at the time of entry. Employees, contractors, directors, and officers of Beffa Law and its respective affiliated companies, distributors, licensees, and the advertising, fulfillment, judging, and promotion agencies involved in the development and administration of this promotion and their immediate family members and those living in the same households of each are not eligible to enter the contest.
  2. Promotion Period: The promotion begins at 7:00 a.m. (EST) on December 12, 2022, and ends at 11.59 p.m. EST on December 23, 2022. All submissions must be entered during the official time frame of the promotion to be eligible.
  3. How to Enter: (all entrants acknowledge their information will not be used or sold for other marketing or promotional purposes.)
    During the promotion period, go to the Beffa Law Facebook page and Beffa Law Instagram page and follow the instructions for each of the 12 days. Entrants must like the Beffa Law Facebook page and Instagram pages before December 12, 2022, to get specific daily instructions on how to enter the contest each day.
  4. Daily Entries: MUST LIMIT ONE (1) ONLINE ENTRY PER PERSON, PER DAY. For purposes of this promotion, a day is defined as a 24-hour period beginning at 12:00 a.m. EST and ending at 11:59 p.m. EST.
  5. Prize & Odds: Daily prize will not exceed $250 and will be picked up by the winner after the promotion period ends. No substitution or transfer of prize is permitted except at the Sponsor’s sole and absolute discretion. All taxes, and all other costs associated with acceptance or use of the prizes, are the sole responsibility of the winner. The odds of winning the prize depend on the total number of entries received.
  6. Claiming the Prize: IF CHOSEN AS THE WINNER, please privately message us to receive further instructions on how to claim your prize.
  7. Sponsor reserves the right to remove and invalidate from this promotion posts, comments, or statements of wishes that Sponsor determines in its sole discretion are inappropriate.

General Rules: Beffa Law 12 Days of Christmas Giveaway rules and guidelines:

  1. You must be 18 or older to participate.
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  3. Sponsor reserves the right to remove and invalidate from this promotion posts, comments, or statements of wishes that Sponsor determines in its sole discretion are inappropriate.
  4. All federal, provincial and municipal laws apply. Winners will be notified through Facebook and Instagram and have 24 hours to redeem their prize. The return of any prize/prize notification as undeliverable or failure to respond to notices or return any documents in a timely manner, as determined by the administrator, may result in disqualification and an alternate winner may be chosen. By participating, participants agree to release, discharge, and hold harmless promotion parties from and against any and all liability or damages associated with this promotion or acceptance, use, or misuse of any prize received in this promotion. Promotion parties are not responsible for any typographical or other error in the printing of the offer or administration of the promotion. Acceptance of the prize constitutes permission for the Sponsor and their agencies to use the winner’s names and likenesses for purposes of advertising and publicity without further compensation unless prohibited by law. By participating in this promotion, participants agree to be bound by the Official Rules and decisions of Beffa Law, which shall be final in all matters relating to the promotion. Promotion parties are not responsible for lost, late, misdirected, stolen, illegible, inaccurate, damaged, incomplete, non-delivered, or postage-due mail; or for printing, distribution, or production errors or technical, hardware, software, or telephone malfunctions of any kind, lost or unavailable network connections, or failed, incorrect, incomplete, inaccurate, garbled or delayed electronic communications caused by the user or by any of the equipment or programming associated with or utilized in this promotion, or by any human, or other error, which may occur in this promotion. If in the administrator’s sole opinion, there is any suspected or actual evidence of tampering with any portion of the promotion, or if technical difficulties compromise the integrity of the promotion, Beffa Law reserves the right to void suspect entries and/or modify and/or suspend and/or terminate the promotion and/or conduct a random drawing to award the prizes in a manner deemed appropriate by the administrator. In the event of a dispute regarding the identity of the person submitting an entry, entries will be declared made by the name appearing on the online entry. Sponsor reserves the right to disqualify any individual who tampers with the promotion or website or acts in a disruptive manner. This promotion is offered only in Canada and is governed by the laws of the province of Ontario, Canada. By entering, entrants irrevocably consent to the sole and exclusive jurisdiction of the courts of the Province of Ontario for any action, suit, or proceeding arising out of or relating to this promotion.
  5. Waiver: By participating in this promotion, participant waives all rights to claim punitive, incidental, and consequential damages, lawyer’s fees, or any damages other than actual out-of-pocket costs incurred to participate. The Prize winners waive all rights and indemnify the Sponsor against any loss or liability resulting from the Grand Prize.
  6. Winners’ names will be posted on Beffa Law’s Facebook and Instagram Pages.
  7. Sponsor: Beffa Law Professional Corporation, 301-231 Oak Park Blvd., Oakville, Ontario, L6H 7S8, Canada.
  8. Facebook and Instagram are not sponsors of Beffa Law 12 days of Christmas Giveaway and any entrants agree to release both Facebook and Instagram from all liability related to the contest.
  9. Beffa Law reserves the right to modify, change, or cancel this promotion at any time, without notice.
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REFINANCE
  • Review mortgage instructions for refinancing.
  • Conduct and review title searches for any defects in the title.
  • Conduct and review writ searches and execution searches.
  • Secure title insurance and all correspondence with the title insurance company.
  • Review mortgage instructions.
  • Draft all mortgage documents
  • Register mortgage documents.
  • Extensive correspondence with the lenders and banks.
  • Receive mortgage funds.
  • Review certificate of insurance.
  • Meet with client to explain and sign all legal documents
  • Close the refinance transaction and securely transfer the funds
  • Register mortgage on title
  • Open the refinance file and access to client portal
  • Report to client, lender & realtor about closing
  • One in person appointment or remote signing on zoom
  • After office hours appointment.

CLOSING COSTS &  NOT INCLUDED IN FEES;

  • Title Insurance (as per Invoice)
  • Registration Costs/ per Mortgage;
  • Software Charges;
  • Flat disbursements cost, title searches, writ searches, execution searches, bank charges, courier charges etc.

CALCULATE YOUR COSTS

OCCUPANCY
  • Acting for you in matters relating to your purchase of the property
  • Review the Agreement of Purchase and Sale
  • Conduct and review title searches for any defects in the title Submit requisitions on the title and review the responses
  • Search for arrears of taxes and obtaining a certificate
  • Confirm that utilities were in satisfactory standing and arranging for meters be read
  • Search for executions
  • Examine the draft deed
  • Review the statement of adjustments
  • Reviewing the documentation provided by the builder including warranties, declarations and vendor’s and purchaser’s undertakings, and verifying enrolment with Tarion Warranty Corporation
  • Draft documents and statements in accordance with Land Transfer Tax Act
  • Correspondence with the Condominium Corporation and obtain a Status Certificate and Certificate of Insurance and review the same
  • Meet with client to explain and sign all legal documents
  • One in person appointment or remote signing on zoom
  • Close the transaction and securely transfer funds
  • Register transfer

OTHER CLOSING COSTS

  • Software charges ;
  • Disbursements includes one title search

CALCULATE YOUR COSTS

TITLE TRANSFER
  • Complete the required documents and gather the supporting documents
  • Obtain appropriate legal advice for the tax and other implications of the title transfer
  • Review the forms for completeness and accuracy
  • Perform title searches
  • Obtain title insurance
  • Update the contents and fire insurance policy
  • Update ownership records in the utility bills
  • Advise current mortgage lender of the title changes
  • Get the title change documents registered and report them to the clients
  • Send information to the city’s tax department and condo property management of changes in ownership

CLOSING COSTS NOT INCLUDED IN FEES

  • Software charges
  • Flat disbursements cost – includes one title search
  • Registration Fee

CALCULATE YOUR COSTS

SALE
  • Review mortgage instructions for refinancing.
  • Conduct and review title searches for any defects in the title.
  • Conduct and review writ searches and execution searches.
  • Secure title insurance and all correspondence with the title insurance company.
  • Review mortgage instructions.
  • Draft all mortgage documents
  • Register mortgage documents.
  • Extensive correspondence with the lenders and banks.
  • Receive mortgage funds.
  • Review certificate of insurance.
  • Meet with client to explain and sign all legal documents
  • Close the refinance transaction and securely transfer the funds
  • Register mortgage on title
  • Open the refinance file and access to client portal
  • Report to client, lender & realtor about closing
  • One in person appointment or remote signing on zoom
  • After office hours appointment.

OTHER CLOSING COSTS 

  • Title Insurance (as per Invoice)
  • Registration Costs/ per Mortgage
  • One Mortgage payout with a Tier 1 bank
  • Software & office disbursements
  • Flat disbursements cost includes one title search

CALCULATE YOUR COSTS

PURCHASE
  • Review the Agreement of Purchase and Sale.
  • Conduct and review title searches for any defects in the title.
  • Submit requisitions on the title and review the responses.
  • Conduct and review writ and execution searches.
  • Secure title insurance and all correspondence with the title insurance company.
  • Examine draft transfer deeds and draft closing documents.
  • Review the statement of adjustments.
  • Draft documents and statements in accordance with Land Transfer Tax Act.
  • Draft documents to apply for first-time home buyer rebate for the client.
  • Correspondence with the lender and banks.
  • Review the certificate of insurance.
  • Meet with client to explain and sign all legal documents
  • Close the purchase transaction and securely transfer funds
  • Register transfer
  • Report to client, lender & realtor about closing
  • One in person appointment or remote signing on zoom
  • After office hours appointment

OTHER CLOSING COSTS

  • Land Transfer Tax
  • Title Insurance (as per invoice)
  • One Mortgage with a Canadian Tier 1 bank
  • Government Registration fees
  • Teranet and search fees;
  • Software fee and other office disbursements

CALCULATE YOUR COSTS

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