Gifting property to your children while you’re alive can be a meaningful gesture and, in some cases, a strategic estate planning move. In British Columbia, this decision carries both benefits and risks. While it may help simplify your estate or reduce probate fees, it can also trigger tax consequences or create complications if not handled…
Estate planning isn’t just about deciding who gets what, it’s about preserving your wealth, minimizing taxes, and ensuring your wishes are honoured. There are several tax obligations that can affect your estate before assets are passed on to your loved ones. Understanding these obligations, and how to reduce them, is key to protecting your legacy….
An Alter Ego Trust is a special type of trust available to Canadians aged 65 or older. It allows you to transfer assets into a trust while still retaining full control and benefit of them during your lifetime. Alter Ego Trusts are often used for estate planning because they offer privacy and probate advantages….
A Power of Attorney (POA) is a crucial legal document that allows someone you trust to manage your legal and financial affairs if you become unable to do so yourself. In British Columbia, setting up a POA is an important step in your estate and incapacity planning. Here’s what you need to know about Powers…
Many first-time buyers are unsure as to whether they need a lawyer to buy a property. Once you have found a property or home that you want to buy and your offer is accepted by the seller, that is when you will need to hire a lawyer in order to legally transfer the property into…
