Why Have a Personal Directive?

Posted on July 30, 2011 by admin

As a result of legislation in Alberta known as the “Personal Directive Act” you are able to make written arrangements for personal non-financial decisions to be made for you when you no longer have the capacity to make such decisions on your own. Personal Directive replaces what was previously known as a “living will”. Continue reading “Why Have a Personal Directive?” »
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Tax Planning and the Family Trust

Posted on May 5, 2011 by admin

Trusts are a little understood English creation dating back to the 14th century.

An ever increasing tax burden together with the closing of many tax planning “loopholes” over the past years have led to renewed interest in the inter vivos family trust as a tax planning vehicle. Continue reading “Tax Planning and the Family Trust” »

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What to Look For in a Mortgage

Posted on April 14, 2011 by admin

1.Transferable without approval
2.Rate – shop around – not the same
3.Term – depends on the rate
4.Prepayment
5.Legal costs and mortgage insurance, appraisal fee, survey, adjustment or pre-paids e.g. taxes, insurance
6.Amortization Continue reading “What to Look For in a Mortgage” »

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Duties and Liabilities of Directors

Posted on December 14, 2010 by admin

A corporation cannot act for itself but only through its directors. The Board of Directors determines the policies of the corporation, elects and supervises the officers (if any) and controls the operation of the corporation for the ultimate benefit of the shareholder. Continue reading “Duties and Liabilities of Directors” »

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Legal Tips For Business Owners

Posted on December 8, 2010 by admin

If you are involved in small business you may spend many years building up considerable assets and then find you risk losing it all because of one bad year or one bad contract. With some simple planning you can do much to protect yourself. A few important things to think about to protect your assets. Continue reading “Legal Tips For Business Owners” »

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Estate Planning in Alberta

Posted on December 2, 2010 by admin

DISCLAIMER
The comments in this article are intended only as a general outline of the steps, rights and liabilities involved in estate planning. They are not an exhaustive statement of the law and procedure relating to estate planning. Continue reading “Estate Planning in Alberta” »

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What is a Will?

Posted on November 26, 2010 by admin

A.  WHAT IS A WILL?
A will is a written document legally enforceable if certain conditions are met.

,B. WHY HAVE A WILL?
l.  The key to enjoyment of your property while you are alive. Continue reading “What is a Will?” »

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The Purchase and Sale of a Business

Posted on November 25, 2010 by admin

1.   Assets or Shares?
The most often asked question when a business is to be sold is whether it is better to sell shares (assuming the business is presently operated by a Corporation) or assets? The value of the shares of the Corporation may differ significantly from the value of the assets of the business. Continue reading “The Purchase and Sale of a Business” »

Posted in Commercial Transactions | 2 Comments

The Family Business

Posted on November 24, 2010 by admin

Family businesses are important in Canada.

The founder of the family business ultimately has to decide, at some time, to either keep it in the family. or to sell it. Few family businesses pass to the next generation. Too many sell at the wrong time at less than what the founder would have wanted. Continue reading “The Family Business” »

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Structuring a Business in Alberta

Posted on November 19, 2010 by admin

DISCLAIMER: This topic is dealt with in a general way only. This information should not be  relied upon without also receiving advice based on your particular circumstances from a lawyer and an accountant. Continue reading “Structuring a Business in Alberta” »

Posted in Corporate | 2 Comments