The Newly Built Home Exemption reduces or eliminates the amount of property transfer tax you pay when you purchase a newly built home. A newly built home includes: a house constructed and affixed on a parcel of vacant land a new apartment in a newly built condominium building a manufactured home that is placed and…
As we get older it becomes more and more apparent that no matter how much we take care of ourselves and how much we try to avoid hardship, we cannot predict the possible obstacles that the future holds. By the age of 50, you have probably learned that even the best planned strategies need a…
Many active aging boomers are downsizing to free-up funds for retirement or travel, or to make life simpler after their children leave home. If you’re considering a strata property, make sure you read and understand the strata minutes and bylaws; particularly on the topics of noise, pets, smoking and parking, which are the most frequent…
Whew! After selling our home and buying a new place 2 months ago, we just finished the construction of the improvements in our new office too and moved in the weekend of August 22nd. A number of months ago I thought this would be great! New beginnings at home and work all at the same…
Did you know? ICBC now requires all off-road vehicles to be registered. The deadline for registration has been extended from June 1st, 2015 to November 1st, 2015. Currently, registration is voluntary but it will become mandatory as of the November 1st deadline. According to ICBC, off-road vehicles include (but are not limited to) golf carts,…
A. Joint Wills, which basically combine the Will of two people into a single document, are not recognized under British Columbia law. Most couples create “mirror Wills” which are two separate Wills that are identical in all respects. For example, a husband and wife can make mirror Wills where they name each other as Trustee,…
The Province of BC made this proclamation to encourage residents who don’t have a Will to create one to ensure their final wishes are clear and carried out after their death. A survey conducted province-wide just a year ago by Mustel Group for The Society of Notaries Public of BC found that only 55% of…
Q. They were never comfortable doing a Power of Attorney. Now they are no longer capable of looking after their own affairs or doing a Power of Attorney. Is there anything I can do to help them other than going to Court to be appointed to look after their affairs? A. Many people who are no…
A. No. A Power of Attorney allows the person(s) you have appointed to assist you with legal and financial matters. If you wish to appoint someone to assist you with personal and health care matters, you need to have something called a Representation Agreement prepared. This document also allows the person(s) you have appointed to…
Yes there are. An estate used to be divided on the basis of “consanguinity” and it is now divided in a “parentelic” manner. If you have a spouse and no “descendants”, everything goes to your spouse. If you have no spouse, everything goes to your descendants. If you have a spouse and descendants there is…