Winnie Luk

Winnie J Luk, BA, JD, MBA, founder of Landmark Law, is a seasoned Ontario lawyer practicing in Wills and Estates, Real Estate, and Business Law and frequent speaker of free legal education seminar.

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27 Nov 2017 • 2 min read

Dual Wills 雙遺囑 (平安書)

English Version By: Winnie J Luk Translation: Andrea Lau 在安大略省，雙遺囑是遺產規劃的一種工具。雙遺囑特別能夠有效地應用在擁有重大個人資產的立遺囑人身上，包括擁有私人公司股份或擁有物業註冊系統內註冊物業的人士。一般來說，立遺囑人的首要遺囑先需要遺囑認證，即通過安省法院證明遺囑的有效性及合理性。遺囑認證通過及繳付資產管理稅以後，立遺囑人能使用遺產承辦證書委任遺產受託人以及履行遺囑意願。資產管理稅是按照合理市場價值計算。遺產價值首五萬，稅率為0.5％，五萬以上部分，稅率為1.5％。安大略省資產管理稅率是北美最高。次要遺囑列下資產有可能括免遺囑認證及資產管理稅。首要遺囑及次要遺囑合成的雙遺囑能夠覆蓋立遺囑人在安大略省全部資產。括免支付資產管理稅數目通常大於安排雙遺囑費用。閣下可以利用雙遺囑減低資產管理稅，留下更多資產給予親人。雙遺囑是於加拿大最高法院在1998年Granovsky Estate v. Ontario定案而產生的一個漏洞，只立法及適用於安省。卑詩省律師能根據卑詩法利用其他方式降低資產管理稅。

27 Nov 2017 • 2 min read

The Joint Spousal and Common-law Partner Trust, an Estate Planning Strategy for Seniors

简体版 | 繁體版 The Joint Spousal and Common-law Partner Trust was introduced in the Income Tax Act in 2000. It is the equivalent to the Alter Ego Trust, but for couples. The strategy behind this new type of trust is to enhance estate planning opportunities for seniors. Advantages of the Joint

27 Nov 2017 • 6 min read

Purchasing Residential Property - Important Information for the Closing

简体版 | 繁體版 Congratulations on your coming residential property purchase! Purchasers will need to be informed of and consider the following in relation to their purchase. Name(s) on the Property’s Deed Joint Ownership If more than one person's name will appear on the deed for the new

27 Nov 2017 • 3 min read

How Your Lawyer Can Help You Avoid A Nightmare In A Hot Housing Market

简体版 | 繁體版 This article has been provided by Landmark Law Professional Corporation with the assistance and permission of Nadia Dalimonte and Kathleen Waters of LAWPRO’s ® TitlePLUS ® Program Buying a home can be a stressful experience. Trying to buy in a hot market compounds the pressure potential. You’ll be

27 Nov 2017 • 4 min read

The Ins And Outs Of Title Insurance: What’s Covered And What’s Not

简体版 | 繁體版 This article has been provided by Landmark Law Professional Corporation with the assistance and permission of Nadia Dalimonte and Kathleen Waters of LAWPRO’s ® TitlePLUS ® Program. When it comes to the single largest investment most of us will make – buying a home – you want to make sure you’

27 Nov 2017 • 3 min read

Planning for legal costs when you buy or sell a home

简体版 | 繁體版 This article has been provided by Landmark Law Professional Corporation with the assistance and permission of Nadia Dalimonte and Kathleen Waters of LAWPRO’s ® TitlePLUS ® Program. Whether you’re buying or selling, you know for certain that you’ll need a lawyer to ensure that all of the

16 Feb 2015 • 4 min read

Resale House Purchase - Closing Documents explained in Layperson's Terms

简体 | 繁體 By Winnie Luk Congratulations on the purchase of your home! The following are typical closing documents that the Purchaser must sign in a resale house purchase transaction explained in plain language. The terms Purchaser and Borrower are used interchangeably. Acknowledgement and Direction (Transfer) In this document, the Purchaser

5 Jul 2014 • 1 min read

Henson Trusts to Protect ODSP Entitlement

简体版 | 繁體版 By Winnie J Luk If you have loved ones with special needs who are receiving support from the Ontario Disability Support Program (ODSP), you should consider creating a Henson Trust for them. A Henson Trust is a type of trust designed to benefit people receiving ODSP payments. It

5 Jul 2014 • 1 min read

Assets that Do Not Affect ODSP Entitlement

简体版 | 繁體版 By: Winnie Luk The following are some payments that may be made by the trustee on behalf of the beneficiary without affecting his or her entitlement to Ontario Disability Support Program (ODSP): * Principal residence * Secondary property approved for health/wellbeing * Primary car * Second car up to $15,000

5 Jul 2014 • 1 min read

Trustees Statutory Compensation

By Winnie J Luk Under s. 61(1) of the Ontario’s Trustee Act, Executors and trustees are entitled to be compensated for their work in the administration of estates. The Act contains no specific rules as to the calculation and amount of the compensation. However, the courts generally applies

3 Apr 2014 • 1 min read

Wills & Estates Seminar April 23, 2014, BMO Market Village, Markham

Winnie J Luk will be presenting an introductory seminar on the basics of Wills & Estate Planning sponsored by Investment Advisors, Yan Mok and Mindy Mok. To learn more about this important topic, please reserve your spot today by RSVP'ing to Karen Yan at karen.yan@nbpcd.com.

31 Mar 2014 • 1 min read

Asset vs Share Purchase of a Business

A key question when deciding to purchase or sell a business is whether to structure the transaction as an asset purchase or share purchase.

22 Mar 2014 • 1 min read

Letter of Intent

简体 | 繁體 When potential sellers and buyers are contemplating entering into a business sale and purchase transaction, initial considerations may involve key terms such as the purchase price, payment terms and deal structure as an asset or share purchase, etc. When discussions and negotiations become serious, such key terms may

22 Mar 2014 • 1 min read

Business Purchase Due Diligence

简体 | 繁體 Have you ever purchased a used car? Did you wonder whether the car is a lemon even though it passed the test drive? Similarly, when purchasing someone else’s business, there is asymmetric information. You would be concerned about unknown factors regarding the condition of the business and

24 Feb 2014 • 2 min read

Mortgage for Small Business Loan

By Winnie J Luk Refinancing Please note that this article deals with a mortgage on residential property to secure a small business loan. In cases where the lending institution finds that the business has sufficient collateral, the lending institution might take a security interest in the business assets rather than