The Role of a Real Estate Lawyer in BC Commercial Leases
If you run a business and operate out of a leased property, the rent you pay can form a major chunk of your monthly business expenses. A business lease can last for years and there are several issues that could arise if the lease does not have the terms to properly address your concerns as…
Protecting Your Property Rights: The Role of Real Estate Lawyers
Property rights give you the right to own a specific asset. From real estate properties to intellectual properties, property rights let you make exclusive claims on specific assets. When it comes to real estate properties, a real estate lawyer helps you safeguard these rights and lets you safeguard the property rights of others. Before understanding…
How to Challenge a Will in British Columbia
Challenging a will in British Columbia can be a daunting process – both legally and emotionally. By default, the courts will carry out the procedures enlisted by the deceased individual on their will. In some cases, these procedures and decisions can be challenged. In fact, contesting a will may be necessary in some cases. There…
Benefits Of Family Trusts In British Columbia
While we all are aware of a Will and how it allows an individual to transfer their properties and other relevant rights to their family members and/or other beneficiaries, we often fail to include family trusts in the same conversation. Creating a family trust may be an effective way for an individual to obtain tax…
What Is Legal Separation In British Columbia
When a marriage falls apart, it is assumed that the couple will culminate their relationship with a divorce. However, this is not the case. While some couples decide to get a divorce, others opt for separation. Legal separation is an intricate matter and involves various legal considerations applicable to the couple. If you are considering…
Do I Really Need a Shareholders’ Agreement for My Corporation?
For new entrepreneurs and business owners, it is extremely important to understand the intricacies of corporate management. Among the many decisions to be made, one question that frequently comes up is: Do I really need a shareholders’ agreement for my corporation? The short answer is a yes, and here’s why. The Essence of a Shareholders’…
How Will the New Property Transfer Tax Exemptions Starting April 1, 2024, Affect Homebuyers?
Introduction The BC Government has announced amendments in the budget to provide for Property Transfer Tax (“PTT”) Exemptions, particularly for first-time buyers and those looking at newly built homes. Starting April 1, 2024, more people will be able to take advantage of the Property Transfer Tax Exemptions as outlined below. First Time Home Buyers’ Exemption…
Estate Planning and Real Estate Gifts in British Columbia: Navigating Tax Implications
Estate Planning: Balancing Generosity with Smart Tax Planning In the realm of estate planning in British Columbia, gifting real estate is a common strategy. While it’s a generous way to pass on assets to loved ones, understanding the tax implications is essential for smart estate management. The Tax Nuances of Gifting Property in BC Estate…
Understanding the Two Paths to Business Acquisition
When it comes to acquiring a business in Surrey, BC, or anywhere in Metro Vancouver, entrepreneurs often face a pivotal decision: should they opt for an asset purchase or a share purchase? This decision can significantly impact both the process and outcome of the acquisition. The Foundations of Business Acquisition Strategies In corporate transactions, two…
Dying without a Will: Navigating Intestate Estates and Probate in BC: A Comprehensive Guide
The Importance of a Will in Directing Estate Administration The passing of a loved one without a will, known as dying intestate, can lead to complex legal proceedings in British Columbia. Understanding the implications of intestacy and the probate process is crucial for effective estate management. The Consequences of Dying Intestate in BC When someone…