Answer – Under current Canadian law, in most instances, your primary residence will transfer from your estate tax free while your cottage will be taxable. A cottage, or any other second piece of real estate will be subject to a capital gains tax. The tax amount would be calculated on fifty percent (50%) of the…

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Those who have married or divorced may want to consider making a new Will. Unless specifically contemplated in the Will, a previously made Will is automatically revoked upon marriage. The rationale behind this is that a deceased person is expected to provide for his or her spouse and issue, and the effect is that if…

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Q. My mother is 85 and quite sharp for her age. My siblings and I have tried to discuss with her the wisdom of having a Power of Attorney. She does not wish to talk about this and we are concerned that she may eventually need one. What happens if a Power of Attorney is…

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We are often asked if will “kits” (or the boxed wills that you can purchase from a stationary store) are valid and the answer is yes provided they are completed in the manner required by the <em>Wills Act</em>, RSNB 1973, c. W-9. The difficulty is that most people have no idea what the law requires…

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