Leaving Legacy Gifts in Wills
Wills & Powers of AttorneyWhen your ambitions exceed your worth, your estate executor could be taxed to administer your Will. Axess Law organizes Wills to make it clear to beneficiaries, executors and Ontario probate court who gets what, in which order. Properly structured legacy gifts make distributing your Will easier and can prevent legal disputes among your beneficiaries. Ensure…Read More
Cash Gifts in Wills
Wills & Powers of AttorneyGiving small gifts in Wills can drive up an estate’s probate costs. Before you bequeath $500 here and there, consider making cash gifts during life. Your inter vivos (among the living) gift can make a real difference — and reduce your estate administration taxes due after death. Probating an estate can be a lengthy and…Read More
Beneficiaries vs Creditors: Who Gets Priority During Probate
Wills & Powers of AttorneyYour next-of-kin had substantial debts when they died. Now creditors are knocking on your door as estate trustee, asking to be paid. Should or shouldn’t you honour outstanding bills of a recently deceased’s estate? As estate trustee, your task is to tally up the assets and distribute the proceeds to beneficiaries after bona fide (real…Read More
Condo Assessments – Red Flags for Buyers
Real EstateWills & Powers of AttorneyPut status or estoppel certificates on your must-have condo buyer list. They can tell you what condition a building is in — and whether the condominium corporation has the reserves it needs to fix common area problems like leaky windows. Before you commit to making a firm offer on a condo you like, ask for…Read More
Getting Home Appraisals: What is Your Home Worth
Real EstateThinking of selling or just planning renovations — your home’s market value matters. Get a professional property appraisal when you want to know the financial worth of the home you live in or get a new build appraisal for a mortgage. Accredited appraisers use market research and a visual inspection to give you an independent…Read More