The question of “When is a Deposit a Deposit?” is one of the two most significant ramifications of the risk of transactions collapsing. The second question is whether or not a seller may sue for damage. The two alternatives are not mutually exclusive, and the second option for home sellers is covered in this article. What property sellers may do…
The business attorneys at Sodagar & Company Law Corporation can effectively help you through a corporate restructuring. Estate Freeze Do you intend to sell your company in the near future? Or do you intend to transmit your business to your children in the coming years? If so, you should assess whether a freeze on your estate is a smart plan.…
Our attorneys specializing in trusts may assist you in establishing an alter ego trust or a joint partner trust. To ensure the trust is tax-efficient and advantageous to you, a tax lawyer provides independent guidance. About: Inter vivos trusts like alter ego and joint partner trusts allow you to transfer assets throughout your lifetime. After it’s set up, you’ll have…
As a general rule, any profits from the sale of a capital asset, such as real estate, are subject to taxation in the hands of the seller. The exemption that applies to the sale of a person’s primary residence from this capital gains tax is one that is often used by Canadians. This blog summarizes how recent adjustments to taxes…
Due to the interdependence of the modern world, it is fairly common for citizens of British Columbia to possess assets in many jurisdictions. When a BC resident dies with overseas assets and requests for an estate grant, two problems arise: Should foreign assets be revealed when applying for a British Columbia estate grant? As part of the application for a…
The majority of people are aware that when we die, legal procedures must be followed, and that these procedures are often complex, time-consuming, and costly. Although it is possible to decrease or remove many of these obstacles by diligent estate planning, the following is a quick overview of the actual expenses connected with the administration of an estate after death.…
If your intentions as to your estate are not clarified to the extent required by law, you will be intestate. In such cases, the additional costs associated with probating your estate can cause great strain to your survivors. It is always advisable to have a clear, valid will in place, representing your final wishes as your estate, to avoid any…
While not the most pleasant of thoughts, planning your estate is crucial to protecting your family from legal difficulty after you have passed. Most areas of law are mired in red tape, and pages after pages of requirements to ensure validity and enforceability. Because of the potential complications, it is advisable to act sooner rather than later. An improperly arranged…
The “accumulation years”, the time you spend on working and acquiring assets for both your personal and financial future use. During this period, you pursue your interests and donate to charities, own businesses, invest in stocks, and purchase property. Regardless of the type of assets you possess, you will most likely want them protected and deliberately distributed amongst your beneficiaries…