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Is Inheritance Taxable in Canada?

Managing the estate’s tax burden is an important part of the estate planning process. Fortunately, Canada makes taxation relatively easy on decedents and heirs alike.   While your heirs will not be directly taxed upon your death, your estate will. With a solid estate plan in place, your executor should have a relatively easy time…

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New Residential Rental Property Rebates in Alberta: The Complete Guide

Rebates can save you a substantial amount of money on your real estate purchases by lowering your overall tax liability.    There are two federal rebates that Alberta property purchasers can benefit from: the GST/HST New Housing Rebate and the GST/HST New Residential Rental Property Rebate.   Here’s your complete guide to these rebates, as…

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The Ultimate Guide to Executor Fees in Canada

Have you recently taken on the role of executor to an estate? Are you the beneficiary of an estate who is worried about what your executor might be doing?   Both parties may be surprised to learn that in Alberta, and throughout the country, executors are allowed to receive payment from the estate for their…

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Buying and Selling Property as a Non-Resident in Canada: the Definitive Guide

A non-resident may buy and sell property in Canada. A non-resident may even earn income on a property in Canada, either by turning it into a rental property or by turning it into a short-term rental like an Airbnb. That said, owning, maintaining, renting, and selling property across national lines can get complicated. Here’s what…

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How Long Does a Beneficiary Have to Sign a Release?

If you’re the beneficiary of a will you may be surprised to learn that the executor of the estate is likely to ask you to sign a release or waiver form before they let you have your inheritance. Being asked to sign a release often causes beneficiaries some anxiety. Here is everything you need to…

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What is Title Insurance in Alberta? Here’s the Ultimate Guide

Every home comes with a title. The title is the document that gives you legal ownership of a property. If the title isn’t free, clear, and transferred to you properly then you don’t own the home. Title insurance protects you in the event that a problem with a title causes you some sort of loss.…

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How Long Does it Take to Probate a Will in Alberta?

Probate is a process that can impact when and how heirs can take possession of an inherited property in Alberta.    Probate is the process of validating a will. The judge ensures the will is legal, and ensures that it’s the most up-to-date version of the will. The judge then authorizes the executor to begin…

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How Much is Land Transfer Tax in Alberta?

When you close on your home land transfer tax will make up the bulk of your closing costs. It is also the one part of your closing costs that can’t be rolled into a mortgage or paid directly by the seller (though they can offer you credits to cover the costs in other ways). First…

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How to Avoid Probate in Canada

Do you really need to avoid probate? Is it even desirable? While sometimes it can be advantageous to pass certain assets straight to your beneficiaries, probate is not necessarily the problem that some publications make it out to be. Here is what you need to know about probate. What is probate and what does it…

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The Canadian Home Buyer’s Definitive Guide to Closing Costs

It’s very common for first-time home buyers to forget all about closing costs. Even experienced home buyers may be caught off-guard by them, or may struggle to account for them. This guide will help you understand closing costs, account for them correctly, and understand them as a potential point of negotiation. What are closing costs?…

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