It’s not uncommon for clients to arrive at their lawyer’s office for their first home purchase, having already signed a binding Agreement of Purchase and Sale, and they are unaware of the commitment into which they have entered. It is important to us that you are informed before you make the commitment to buy a home. Our job is to protect our clients’ rights, but our role is limited when you have already signed the agreement before you contact us. There are many resources available online that can help you to inform yourself before and during the homebuying process. This article for Global News, for example, written by Dani-Elle Dubé, outlines what you should know before you even contact your real estate agent.
During the administration of estates, there are typically many concerns over the cost of probate. “Probate” is an outdated term referring to Estates Administration Tax payable to the Minister of Finance. This amount of tax depends on the value of the estate. The Estates Administration Tax calculator provided by the Ministry of the Attorney General can help you to get a rough idea of how much Estates Administration Tax that the estate will have to pay. You can also read more about Estates Administration Tax by clicking the link provided to the Ministry of Finance webpage. Though the Estates Administration Tax calculator can give you an estimate of the amount of tax an estate will be responsible for, it should not be relied upon to be completely accurate. It is advisable to consult a legal professional to be sure that all estate assets are being properly accounted for.
There are many different tasks for which an estate trustee is responsible. Ontario Estate Law, a law firm in Ottawa and Toronto, have posted this article that lists a number of duties for which an estate trustee is responsible. This article is also helpful because it indicates whether each task should be completed immediately, in the interim or as a final matter. This list is a great resource for any estate trustee to keep on hand for reference. Again, remember that lawyers are available to help estate trustees determine their responsibilities. A number of these tasks can also be delegated to a lawyer to look after, for instance applying to the court for a certificate of appointment of estate trustee.