3 Reasons to Sign a Prenuptial Agreement More and more couples are entering into prenuptial agreements prior to getting married. These agreements fall within a greater group of contracts between spouses, which include prenuptial agreements (executed prior to marriage) , cohabitation agreements (for common law couples executed while cohabiting and may also contemplate marriage), and […]Read More
Purchasing a house, or any property, is a monumental decision. It is important to be prepared and organized for this transaction to enable a smooth closing. When you meet or contact your lawyer for the first time regarding your purchase, having the following information and documentation available and ready will save your time and jumpstart […]Read More
You should meet with a lawyer and take steps to resolve the outstanding issues relating to the breakdown of your common-law or marital relationship as soon as you are ready to do so, bearing in mind certain limitation periods that affect the claims you can make with respect to the division of property. Under the […]Read More
You can change your Will at any time. Wills should be reviewed if any of the following events occur (list not being exhaustive): Death or incapacity of executors or guardians. A desire to change executors, beneficiaries, guardians, etc. Birth of a child/adoption. A child or beneficiary becomes disabled. If you and your spouse separate, a […]Read More
Special Treatment of the Matrimonial Home
If a spouse enters into a marriage with a matrimonial home and that home is the same one in which the spouses reside at the date of separation, that spouse cannot deduct the premarital value of the home. As a result, the full value of the home is included in their net family property. This is in stark contrast to the credit they receive for the value of other property owned at the date of marriage.
Joint Tenancy Versus Tenancy in Common
When purchasing or transferring real property, an important decision to make is how title to the property should be held. This decision is equally significant when drafting your Will.
Property owners have two options:
Hold title as joint tenants
Many people believe they are too young to have a Will. A Will not only addresses what will happen to your real property, such as your house, but it also determines the future of funds in your bank accounts, investments, personal belongings and your minor children. The few hours one spends with their lawyer discussing […]Read More