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Preparing a Business for Sale Or What to Look for When Buying a Business
You can increase the ability to sell your business and lower the legal and accounting costs associated with the sale by preparing your business for sale.
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Is There a Will Registry in Alberta?
We are often asked if there is a central government registry in Alberta where someone could search to determine whether a Will has been done. The simple answer is: No.
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Get That Signature!
The Alberta Court of Appeal has once again emphasized the importance of “getting it in writing” and also making sure any agreement is signed, especially where there is a husband and wife.
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What is an Estate Freeze?
An “estate freeze” is a device that is used to “freeze” the value of a business or asset in the hands of one party and transfer the future growth to another person without triggering undue tax consequences.
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Storing Your Will
Many clients ask us: “Will you store my Will?” The answer is: No.
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Ralph Colistro Chairs the SDAB
After serving as a Board Member for several years, Ralph Colistro has been appointed as the Chair of the Edmonton Subdivision and Development Appeal Board (SDAB).
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Using Power of Attorney in Real Estate
Can I use a Power of Attorney to buy, sell or mortgage real estate?
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Don’t Get A Will
As lawyers, we often extol the virtues of getting a will done. We point out the advantages of naming the beneficiaries of your choice and making sure your estate is looked after by the executor or personal representative of your choice.
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The Power of the Unanimous Shareholders Agreement
After five years and multiple drafts we just completed a Unanimous Shareholders Agreement (USA) for a long standing corporate client. Congratulations to them for persisting until they walked out of our office with a completed document. This USA will last for many years and likely govern their relations until they either sell or wind down the business.
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Alberta Real Estate Association
The Alberta Real Estate Association (AREA) published an article written by Stan Galbraith in their September newsletter. This newsletter is distributed to all real estate professionals in Alberta.
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Bridge Financing aka Interim Financing
In this, the latest addition to our video series, Alex Dimitroff addresses the question of bridge or interim financing. Alex explains that this is a loan you will arrange to make sure your real estate purchase closes smoothly when you are relying on the money from the sale of an existing home.
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Choosing a Personal Representative - Executor
Who is the best choice to act as the Personal Representative or Executor of my estate? By the way, Personal Representative or PR is the new single designation we use in Alberta to replace the traditional designations of Executor, Executrix, Administrator, and Administratrix.
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Adding Children to the Title of Your Home
What about adding my children to the title to my home? Won’t this simplify my estate and reduce the expenses?
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Do I Need a Lawyer to do a Will?
Many people ask us: My estate is quite simple. Do I really need to pay a lawyer to help me prepare my will? I have seen wills kits available at my local book store or online and I think these will work just fine. What do you think?
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Joint Tenancy and the Perils of Not Putting It In Writing
A recent case from the Alberta Court of Appeal dealt with a dispute between two brothers regarding the ownership of a rental property in Calgary. When purchased, the property was registered in both names as joint tenants. Later on, a dispute arose as to ownership.
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Check Out Our Video Introductions
Now you can meet Stan, Ralph or Alex., all three of our lawyers, via a video introduction.
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Stan Joins ADRIA Board
On June 21, 2013, coincidentally the first day of summer, Stan Galbraith attended his first Board meeting as one of the newly elected Directors of the Appropriate Dispute Resolution Institute of Alberta (ADRIA).
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Selling Estate Real Estate
Death and real estate can be a complex issue. To put it simply, when someone dies, the ability to transfer any land is lost until a Court Order, known as a Grant, is obtained.
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The Hospital Ethics Committee
First and foremost I was struck by the caring, dedication and compassion of the staff and volunteers at the Sturgeon. I have been a member of the Ethics Committee at this hospital since 2007 so I am intimately familiar with the commitment and expertise of my fellow committee members. Over the years, we have tackled some sensitive and important issues.
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Corporate Law - Share Capital Design
One of the fundamental building blocks of every corporation is the share capital. This is the means by which investors own the business. In old English law, it started out very simply. People who invested in and owned the business did so through holding shares in the business.
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Sit In A Different Chair - Part 3
Previously, we discussed how we all have habits and preferences, most of which we are not aware of. These habits and preferences unconsciously dictate our behavior throughout the day. In fact, the vast majority of the time this makes life easier.
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Estate Gifts to Charity
One of the greatest legacies you can leave is through charitable giving in your will. The vast majority of Canadians give to charity every year during their lifetime. In Alberta, the percentage of people making gifts to charity every year is the highest in Canada.
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Personal Representative Fees
Many people have asked us what a Personal Representative or Executor of charge for their services. Some inquiries originate from beneficiaries who understandably wish to make sure estate expenses are kept to a minimum.
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Sit In A Different Chair - Part 2
In my last post, I talked about our habits and preferences. How we tend to sit in the same chair both at home, at work or in public places such as meetings, church or seminars. Paying attention to habits and preferences of others can help us put them at ease and build a stronger relationship.
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Government Issued Photo ID
Identification with your photograph issued by a governmental authority is required to do business with Galbraith Law. Whether completing a real estate purchase or sale, signing a new will or incorporating a new business government issued photo ID is essential.
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Sit In A Different Chair
Ever notice how people will sit in the same chair when they go to a meeting, seminar, church, lunchroom, theater or especially at home?
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Business Law - What is Your Exit Strategy
We are often asked: Should I incorporate? What about the share structure – what should it look like? I’m thinking about employee share ownership. How does that work? What about a Unanimous Shareholders Agreement? How can I sell my business? Should I sell shares or assets? My accountant says it is time for a corporate restructuring. What does that look like? Can you help me with succession planning?
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Dying Without a Will - What Happens
The rules for distribution on intestacy changed substantially when the new Wills and Succession Act arrived in Alberta.
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Legal Costs
As lawyers we are keenly aware of the cost of high quality legal services and also the tremendous benefits.
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Wills and Estates Overhaul Part II - Dying Without a Will
When someone dies without a will they are said to die intestate. Previously, the distribution of the estate of a person who died intestate was governed by the Intestate Succession Act.
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Breathe
Best of the season to all of you! Now that we have survived the end of the world, we have an opportunity to pause, breathe, get grounded, connect with ourselves, connect with our loved ones and the world around us and feel the gratitude of all the presents we have right here in the present moment.
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Seasons Greetings
Seasons Greetings and Christmas Hours. In order to allow our wonderful staff the opportunity to spend some extra time with family and friends, we will be closed over the upcoming holiday season as follows. We will be open on Christmas Eve December 24 until 12 noon and will then reopen for business at 8:30 am on January 2, 2013.
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Wills & Estates Overhaul Pt.1
First off, what are we dealing with? The new Wills & Succession Act (WSA) is the single biggest overhaul to Wills & Estates legislation since Alberta became a province in 1905. It affects everything from how Wills are interpreted to rights of family members to file a claim against the estate.
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Business Carnage
The Business Corporations Act provides no effective method to resolve differences between feuding shareholders in a small business. We have seen businesses go from healthy to life support while the shareholders fight over someone’s departure.
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Wills Shocker
We make it painless, cost efficient and timely to have a Will prepared by a lawyer. We realize time is a precious commodity. Even though your Will is one of the most crucial documents you will prepare in your lifetime, you still don’t want to make three trips to the lawyer’s office to have your will completed.
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Radical Billing System Provides Certainty
Galbraith Law provides certainty and economy for clients with a radical new fixed-price billing system.
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