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Wednesday, July 27, 2011
Tuesday, July 26, 2011
- How much the lawyer will charge?
- How much your land transfer Taxes will be..
- Are you elidgible for rebates?
- How much you need to actually have at the closing table?
Sunday, July 24, 2011
It's the steps in how the bank is taking you through the mortgage process and what their qualifying criteria is. Very simply put, when you make a contract for the interest rate, that is for the specific period of time, being two years or five years, and then you have the duration which is the amortization of the mortgage, how long can we stretch your repayment period, is now capped at 30 years.
Friday, July 22, 2011
- Why are you selling?
- Have they bought another property?
- What possession do they need?
- How long Have you lived in the Home?
- Have you had any other offers?
- Are the Vendors just testing the market?
- How long have you played around at selling by themselves?
Wednesday, July 13, 2011
On June 17, the Globe and Mail’s Marcus Gee wrote a column about the Bloor Street reconstruction, and briefly mentioned Roncesvalles. He writes:
On Roncesvalles Avenue, too, a major renovation is coming to a happy end. As on Bloor, the street had to be torn up for major work – in Roncey’s case, the laying of new streetcar tracks. The merchants took advantage of the opportunity to spruce up the streetscape. Handsome, pale grey paving stone has been laid for the new, wider sidewalk, with planters, benches and raised transit stops that allow easier access to streetcars for strollers and wheelchairs. New street-level tree planters, replacing the old, raised “tree coffins,” hold 85 new trees, from oaks to maples to chestnuts.
There were delays here, too, and lots of complaints from irritated merchants and residents. The belated discovery that a gas main lay too close to the new tracks meant that the project could not be finished last fall as expected. A dispute with a contractor over manpower caused holdups, too. But the job is on budget and just two weeks from completion, city officials say, with crews laying the final paving stones, putting in bike rings and clearing debris. Councillor Gord Perks says the city held no fewer than 37 community meetings on the design of the street, dealing with everything from the colour of the pavers to the design of the tree grates.
The result is quite marvellous. Roncesvalles, always a lively street, with its pastry shops, delis, bike stores, public library and Revue cinema, was looking a little tired before the do-over. The renovation has given it a fresh, new face. For all the pain they cause, projects like these are just what an ambitious city should be doing, seizing the chance to transform mediocre streetscapes into something better.
How it was different on Roncy
It’s nice to see that the hard work of the past several years is showing great results! But as nice as Bloor Street looks, the Roncesvalles reconstruction was different in a few important ways:
Anyway, I think there is something very special about how the Roncesvalles renewal came about, and I am very pleased to see that the beautiful results are being recognized.
If you would like a home in this established neighbourhood; please feel free to contact me for a list of homes that are currently listed for sale, or enter your criteria here http://Bit.Ly/GetDave Call today as these homes are snapped up quickly. David@davidpylyp.com
Monday, July 11, 2011
We should be building schools, transit, hospitals to meet population changes. Instead we are making decisions about cutting departments and services.
Tuesday, July 5, 2011
Protecting executors from personal liability By Jordan Atin
A group of lay people were asked at a recent seminar if any of them had acted as an executor before. About three-quarters of the group proudly raised their hands. The next question —would any of you do it again? — resulted in many fewer raised hands.
For those who counsel executors, the reaction is not surprising. The workload, the endless calls from beneficiaries about their inheritance, the stress of deadlines and working with professionals, the necessity of keeping meticulous accounting, and even the reams and reams of paper and documents that must be kept, make the thankless job time-consuming and frustrating. More correctly, the job is worse than thankless. How often do we see disgruntled beneficiaries criticising the job the executor has done and seeking to reduce the compensation that the executor has sought?
But it can get much, much worse. When you take on the job of executor, you are putting your own personal assets on the line. As Justice Maurice Cullity stated in Personal Liability of Trustees and Rights of Indemnification: “The risk of personal liability is an incident of the office of trustee.”
Negligence by the executor can render the executor personally liable to the beneficiaries and creditors of the estate. Some common examples where executors could be found negligent are:
Personal liability even extends to an executor who makes a contract in relation to the estate assets. The executor is personally liable to the contractor, but may be subrogated to an executor’s right of indemnity against the estate if the expense or charge of the estate was properly incurred (see Dockrill v. Kikas,  O.J. No. 134 (Ont. S.C.J.). This includes the hiring of professionals, such as lawyers, accountants, real estate agents and the like.
Under Ontario’s Estates Act and in many other jurisdictions, a judge may order damages against the executor for misconduct, neglect or default which results in loss to the estate.
There are many examples where courts have found that executors have breached their duty as fiduciaries. Often, the executor’s compensation is reduced and no additional damages are ordered against the executor.
However, in Zimmerman v. McMichael Estate,  O.J. No. 3022, Justice George Strathy found that the trustee had been negligent in the administration of the trust. In addition to being deprived of compensation, the court ordered that he reimburse the estate personally. The trustee was also required to pay the beneficiaries over $270,000 in costs from his own pocket.
As lawyers, we have professional E&O insurance which may protect us when we act as a sole executor. Of course, we pay the premiums for that policy and, if a claim is made on it, we pay the increase in the premiums and the deductible. What about our client/executors who have no insurance?
At the Ontario Bar Association Annual Institute this year, a new product — executor’s insurance — was unveiled to the profession.
The benefits seem clear; a client won’t have to put his or her own house on the line when granted the “honour” of acting as executor. The executor would also have some protection for legal costs incurred in defending a negligence claim by the beneficiaries which might not be covered by the estate.
Since the estate itself can look to the policy to be made whole from the executor’s negligence, without having to chase the executor for damages, executors’ insurance should appeal to the beneficiaries as well. In Zimmerman, the trustee ultimately died before repaying the estate. In The Globe and Mail, one of the beneficiaries was quoted as saying “I’m not sure that [we] will recoup anything, but we’ll see.”
Will executor’s insurance become like title insurance — recommended as a matter of course in most estates? Depending on the costs and the coverage, it will likely appeal to many of our clients.
Jordan Atin is a mediator and counsel at Hull & Hull LLP in Toronto. He is the co-author of The Family War — Winning the Inheritance Battle, and appears regularly on Canada AM and the Business News Network as an expert on estate matters.http://www.lawyersweekly.ca/index.php?section=article&articleid=1360
The information posted here is absolute and clear; Obtain the Insurance to protect your assets and the costs of a lawsuit against disgruntled or dissatisfied beneficiaries. Barry had this direct comment " Being an executor can be trying and challenging to one's skills, the chances of being sued by family members is a reality especially when we have second and third marriages, non-traditional families and inter-related people who hardly know each other."
Paying attention to the attention economy
Most of us are happily obsessed with the economy of money. We earn it and we spend it and we generally pay attention to what things cost.
Certainly, salespeople and marketers are truly focused on the price of things, on commissions and shelving allowances and net margin and the cost of goods sold.
With all of these easily measured activity, it's easy to overlook the fast-growing and ever more important economy based around attention.
"If I alert my entire customer base, how much will this cost me in permission?"
"How much time do we save our customers with a better written manual?"
"When we fail to ask for (and reward) the privilege of following up, are we wasting permission?"
"Does launching this product to an audience of stangers waste the attention we're going to have to buy?"
Attention is a bit like real estate, in that they're not making any more of it. Unlike real estate, though, it keeps going up in value.