BREAKING: BoC Holds Interest Rate For Second Time In A Row

Estate Planning

Explore estate planning in Canadian real estate, how to protect property assets, reduce probate delays, and ensure your wishes are followed.

Estate Planning

May 30, 2025


What is Estate Planning?

Estate planning is the process of arranging for the management and transfer of a person's assets, including real estate, upon their death or incapacitation.

Why Does Estate Planning Matter in Real Estate?

In Canadian real estate, property often represents a significant portion of one’s estate. Proper planning ensures assets are distributed according to one’s wishes and can help avoid probate delays and tax liabilities.



Key estate planning tools include:



Without a clear estate plan, real estate may pass through probate, causing delays, legal costs, and unintended outcomes.



Understanding estate planning helps property owners protect their assets, ensure family security, and streamline the inheritance process.

Example of Estate Planning in Action

A homeowner adds their spouse to the title as a joint tenant to ensure the property passes automatically without going through probate.

Key Takeaways

  • Organizes asset transfer after death.
  • Avoids probate with proper title setup.
  • Involves wills, trusts, and joint ownership.
  • Helps reduce legal and tax burdens.
  • Key for homeowners and families.

Related Terms

  • Right of Survivorship
  • Joint Tenancy
  • Legal Title
  • Tenancy-in-Common
  • Ownership Rights

Additional Terms

Public Realm Improvements

Public realm improvements are enhancements to public spaces such as sidewalks, parks, plazas, and streetscapes, often funded or contributed by. more

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

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