The legacy of love blog

Henson Trust

Uncategorized May 22, 2019

In January 2019 the Supreme Court of Canada released a decision on the case of S.A. v. Metro Vancouver Housing Corp. 2019 SCC 4. This case is a positive decision for persons with a disability.

The case involved a 56-year-old women (S.with disabilities who couldn't work, and who was denied a housing subsidy in 2015 because she refused to provide the Metro Vancouver Housing Corporation information about a Henson trust that she had been left in her late fathers estate. The  women was told...

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Mobile Wills

Uncategorized May 08, 2019

Our clients are increasingly mobile and often have connections to multiple jurisdictions. They may own a house in Palm Springs, have bank accounts in the UK, a cottage in Croatia, or a business in Spain.

Our office once dealt with and estate where a husband and wife had been married for several years. They had three lovely children, and owned a successful business in Edmonton. When the husband past, everything rolled over to his wife...BUT the condo in Hawaii! We had to take the Canadian will...

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9 Things to Consider When Selling Your Home (Pt. 2)

real estate May 06, 2019

Purchasing a home is likely to be the largest investment you make in your lifetime – so when you are ready to sell, it is important for you to understand the process of doing so.

In our last blog post, we discussed the first five things to consider when selling your home. Here are the final four considerations:

SIX: Fixtures

On the Purchase and Sale Agreement, the Seller must clearly identify the fixtures being sold with the house and differentiate them with the items they plan on...

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9 Things to Consider When Selling Your Home (Pt. 1)

real estate Apr 28, 2019

Purchasing a home is likely to be the largest investment you make in your lifetime – so when you are ready to sell, it is important for you to understand the process of doing so.

In this blog post, we will discuss the first five things to consider when selling your home: 

ONE: Hire a Realtor

While hiring a realtor is not a legal requirement to selling a home, the benefits of doing so may outweigh the costs. They are experienced in the field of real estate and may be able to offer...

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Where does the money in my joint bank account go?

bank account joint Apr 22, 2019

Intent: A desire and will to act in a particular way.

It is this premise that serves as the foundation for determining how funds will be distributed in a joint bank account. The exact definition of “intent” becomes an issue when a parent holds a joint bank account with their child – let us explain:

Joint Bank Account with SPOUSE:

A bank account held jointly by spouses has many benefits – one being convenience. It enables both parties to deposit or withdraw monies in...

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Should I put my children on title?

children joint tenancy Apr 15, 2019

What are the perceived benefits of joint ownership?

The right of survivorship is a convincing attribute of joint ownership. The law states that when one of the joint owners passes away, the surviving joint owner(s) will automatically obtain the deceased person’s share. Accordingly, the asset would flow outside of the deceased person’s estate. If an asset flows outside of an estate, it will not be included in the overall value of the estate that is subsequently used to determine...

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Step-grandchildren and your estate plan

These days, blended families are more common than the traditional nuclear family.  As a grandparent who has step-grandchildren, you may wish to understand who will inherit should you leave a portion of your estate to your “grandchildren”, or should you provide in your Will that if your child pre-deceases you, their share will go to “the deceased child’s children”.  

In Alberta, step-grandchildren are not automatically included in a Will. ...

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Stepchildren: Another reason to create a Will

Each blended family is unique. Maybe your second marriage happened late in life, after your children and your spouse’s children became adults.  As a result, you may not want to include your stepchildren in your Will.  On the other hand, you may have a very close relationship with your stepchildren, having raised them as if they were your own children. In this case, you may very much want to ensure that they get to share in your estate when you die. 

If you...

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Location, location, location!

assets estate planning Mar 21, 2019

The number of Albertans looking to purchase a vacation property is growing every year... and that’s not surprising! There is nothing better than owning a chalet for weekend ski trips, or a house in Palm Springs, or a place on the golf course in Phoenix.  However, if you own a vacation home, you need to ensure that you have taken it into consideration when you are making your Will and planning your estate. 

Something that many families fail to consider is how the...

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Keeping the cabin in the family

assets Mar 14, 2019

Many Albertans have fond memories of spending long summer days at the family cabin with parents, siblings, cousins, grandparents, and aunts and uncles – and their intention is usually that future generations will be able to enjoy this family cabin experience as well.  As a result, passing on the family cabin is often a priority when creating an estate plan.  Unfortunately, complications may arise, both tax and otherwise, that can create challenges.

Whether you decide to...

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