Blog - Page 3 of 5 - De Krupe Law

17 January

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Making an Offer on a Home in Toronto

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Graspingthe nuances of the Toronto real estate marketis crucial, whether you’re an investor or afirst-time homebuyer. The city’s property scene moves at a breakneck pace — prices ebb and flow, and neighbourhoods transform overnight.Arm yourself with a well-crafted strategy before diving into this whirlwind of home buying. Decoding Toronto’s Neighborhoods Each neighbourhood boasts its own character and set of advantages. It influences everything from your daily commute to social life. The complexities of the Toronto real estate market need guidance of a knowledgeablereal estate lawyer. They can help you in aligning your choice of neighbourhood with your lifestyle. Neighbourhoodtypes: Downtown Toronto— perfect for those...

10 January

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Dream Home in Toronto for the Best Price

Posted by Daniel Simard

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If you’re still looking for adream home Toronto, this city is pulsating with life and opportunity for it. Toronto’s real estate market, notorious for its fierce competitiveness and escalating prices, necessitates a mastery of negotiation skills to secure your dream home at an optimal price. Getting to Know Toronto Real Estate Market Toronto’s real estate market is dynamic and ever-growing, ranking as one of the most competitive in North America. You need an understanding of all the elements influencing property values: Market conditions and trends— Toronto’s market is shaped by economic growth, interest rates, and demographic expansion. These factors stoke property demand, pushing...

03 January

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So What is a Trust and How Does it Work?

Posted by Daniel Simard

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So What is a Trust and How Does it Work?

In its most fundamental sense, what is trust and when we talk about estate planning? It's not just a sentiment; it's a legal structure – a trust. This entity stands as a testament to the complex yet vital arrangement in managing and protecting assets. A trust serves as a cornerstone in estate planning, offering a strategic approach to safeguard assets, minimize estate taxes, and ensure a seamless transfer of wealth. Its flexibility allows it to be tailored to unique needs and objectives. The settler crafts the trust document, which serves as a blueprint, detailing the intricacies like life insurance policies, trust...

26 December

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When Does Child Support End In Ontario

Posted by Daniel Simard

in Family Law

In Ontario the age of majority is 18 years old, as defined by the Age of Majority and Accountability Act. But does child support in Ontario really end at that age? In reality it can extend under various special circumstances. If the child is still in high school and depends on the parent, support obligations can be valid until they graduate or turn 19.In case the child has special needs or disabilities,child supportextend too. If the they pursue post-secondary education full-time, support might continue to help with their academic endeavors. These extensions are assessed on a case-by-case basis, considering the child’s...

19 December

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The Afterlife of Your Bank Account

Posted by Daniel Simard

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When the moment comes to leave this earth, have you asked yourself what happens to bank accounts after death canada? Or do you think that unfinished business will allow you to stay on Earth for a while? The overwhelming majority of Canadians are ill-prepared and leave their loved ones with no sense of what to do with their property. All that is necessary to avoid that is to make a will. While you might want to postpone it to a later date, it's better to write it beforehand and save you family a lot of trouble. Preparing for the Inevitable If you're...

12 December

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How to Avoid Probate

Posted by Daniel Simard

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Understanding probate is a step number on a ladder to avoiding it. Terminologically, it is a legal procedure focusing on asset allocation, debt repayment, and tax settlements of the deceased. Particularly, when you’re debating in your head on how do you avoid probate on principal residence, you realize the importance of this knowledge. The Essence of Probate and Non-Probate Assets At the heart of probate lies the differentiation of assets. While some assets necessitate probate, a notable array does not. These non-probate assets, effortlessly bypassing the probate pathway, include jointly held properties, life insurance policies with designated beneficiaries, and registered accounts like...

05 December

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The Misconceptions and Realities of Probate

Posted by Daniel Simard

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The Misconceptions and Realities of Probate

A common misinterpretation involves understanding exactly what assets are not subject to probate in toronto?. Often, advice on this matter is based on personal anecdotes, which, while well-intentioned, may not universally apply due to the intricate nature of probate laws. Often, the perception of probate is shrouded in misconceptions. Many believe that upon passing, all assets inevitably undergo probate before reaching beneficiaries. However, this is a simplification of a more nuanced reality. In Ontario, whether probate is necessary depends on various factors, including the type of assets and their ownership structure. What Exactly is Probate? Probate, in its simplest form, involves the legal...

22 November

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Successor Annuitant and Beneficiary Choices in Estate Planning

Posted by Daniel Simard

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Successor Annuitant and Beneficiary Choices in Estate Planning

With respect to safeguarding the financial future of your loved ones, understanding the distinction between a successor annuitant and a beneficiary is essential. This knowledge is particularly crucial in estate planning. The decision between a successor annuitant vs beneficiary can have significant implications for the distribution of your assets. A successor annuitant often steps into the shoes of the original annuity holder, continuing to receive payments with minimal disruption. In contrast, a beneficiary typically receives assets or proceeds from diverse financial instruments. This includes life insurance policies and retirement accounts, essential in effective estate planning. Beneficiaries often face a distinct legal process...

15 November

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Tips for Purchasing Houses at the Stage of Preparation for Construction

Posted by Daniel Simard

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Tips for Purchasing Houses at the Stage of Preparation for Construction

Buying pre-construction homes in their initial phase is a significant act of faith and a substantial commitment. The inability to physically inspect the finished unit means trusting your builder to fulfill what you've agreed to buy for these pre-construction properties. Understandably, a transaction of this scale involves extensive paperwork. However, comprehending these documents empowers you to be a more knowledgeable buyer and safeguard your investment, even when your new habitation is still under construction. The cornerstone of these documents is your purchase agreement. This legal and binding contract between you and the builder is extensive and filled with legal jargon, which can...

08 November

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Refresh Your Real Estate

Posted by Daniel Simard

in Blog, Real Estate

Such items are often considered personal possessions rather than real property. Also plays a significant role in property negotiations and valuations. This applies to movable property that is not permanently attached to the land or buildings. A property that is easy to rent without changing its condition or value is what includes movable property in real estate. This is what chattel in real estate encompasses. This includes items that are not inherently part of the property and can be removed without altering the property's condition or value. Differentiation of Chattel and Fixture Understanding the classification of chattel in real estate is crucial for...

01 November

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Last-Minute Withdrawals in Ontario Real Estate Deals

Posted by Daniel Simard

in Blog, Real Estate

Last-Minute Withdrawals in Ontario Real Estate Deals

Real estate transactions in Ontario, like elsewhere, are significant life events. A pressing question for many in this process is when is it too late to back out of buying a house ontario. It is a dilemma that highlights the time-sensitive nature of such transactions. It's an essential consideration, as knowing the exact point beyond which a buyer cannot withdraw without consequences is crucial. This knowledge empowers buyers to navigate the process with confidence, ensuring they make decisions that align with their best interests. As a first-time homebuyer, it's crucial to understand the nuances of these transactions, particularly the closing stage....

25 October

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Demystifying the Real Estate Closing Process

Posted by Daniel Simard

in Real Estate

demystifying-the-real-estate-closing-process

Wielding your own home is often considered a milestone achievement. Yet, the journey to homeownership, especially the closing phase, can seem complex and intimidating. The real estate closing process involves a series of steps, each vital in its own right. To navigate these steps successfully, it's crucial to have a clear understanding and to be well-prepared. Partnering with experienced professionals, such as real estate agents and lawyers in Toronto, can significantly ease the burden. With the right guidance and diligence, what might initially seem like a daunting task can transform into an exciting and rewarding experience. The Journey to Home Ownership Everyone dreams of that...