Joint Tenancy | All About Estates

A Gift or not a Gift? That is the Question

By Anna Alizadeh • August 24, 2016

Many people transfer assets to an adult child, but they often do not clearly express why they have done so. The transfer may be meant as a gift, a way of avoiding probate fees, or to simply allow access to a bank account so that their child may help manage…

Principal Residence Exemption and some of the “What if’s”

By Steven Frye • July 26, 2016

In my last blog, I wrote about the role of “beneficial” ownership in the determination of whether a property qualifies for the principal residence exemption. With an acknowledgment to Keith Masterman of “Advisor.ca”, I thought I would take the opportunity to write about some other “what if’s” and how the…

PRINCIPAL RESIDENCE EXEMPTION AND BENEFICIAL OWNERSHIP – AN UPDATE

By Steven Frye • July 12, 2016

We know that if a property qualifies as a principal residence, an exemption can be claimed to reduce or eliminate any capital gain otherwise realized on the disposition of the property. Under the Income Tax Act, one of the requirements for a property to qualify as a taxpayer’s principal residence…

Principal Residence – Duplex or Intergenerational House

By Derek de Gannes • June 7, 2016

The Canada Revenue Agency (CRA) was asked if a duplex occupied by a taxpayer and her aging parent could be treated as the daughter’s taxpayer “principal residence” for the purpose of claiming the principal residence exemption from the capital realized on the sale of the duplex at a later date.

Gifting and Incapacity – A Cautionary Tale

By Justin de Vries • October 30, 2015

Parents are living longer and gifting money to their children before they die or by way of a last minute will. Distrust and disbelieve inevitably arise. The courts are called upon more and more to settle family disputes with all of the attendant rancor and costs. The case of Foley v. McIntyre helps sorts out some of the legal issues.

Principal residence and co-ownership (continued)

By Derek de Gannes • October 20, 2015

In my last blog on this topic I shared with you the comments of the Canada Revenue Agency (CRA) on an implied agreement between a couple regarding their ownership of a property. The CRA went on to comment on the tax implications of both an actual and a deemed sale.

Principal residence and Co-Ownership

By Derek de Gannes • October 1, 2015

The Canada Revenue Agency (CRA) was asked to comment on several scenarios involving the sale and deemed sale of a property co-owned by a couple.

Tenants in Common – A Difficult Sell

By Gillian Fournie • September 23, 2015

You can sever your interest, but not your relationship, with a joint owner of property.

AVOIDING PROBATE FEES WITH A POWER OF ATTORNEY?

By Steven Frye • September 6, 2011

Much has been written about probate fee avoidance. Can you with a power of attorney engage in probate fee avoidance on behalf of a testator whose estate may be subject to probate fees?

More on the perils of joint accounts

By Elaine Blades • April 12, 2011

Before adding your adult child to your bank account for “convenience” or to save probate fees, read this.

Category: Joint Tenancy

A Gift or not a Gift? That is the Question

Principal Residence Exemption and some of the “What if’s”

PRINCIPAL RESIDENCE EXEMPTION AND BENEFICIAL OWNERSHIP – AN UPDATE

Principal Residence – Duplex or Intergenerational House

Gifting and Incapacity – A Cautionary Tale

Principal residence and co-ownership (continued)

Principal residence and Co-Ownership

Tenants in Common – A Difficult Sell

AVOIDING PROBATE FEES WITH A POWER OF ATTORNEY?

More on the perils of joint accounts

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