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Investing in real estate could be one of the best investments anyone could make in their lifetime. With assured returns and tax advantages, real estate investments are lucrative in all ways to the investors. Just like any investment, real estate investment has its risks. One of the main risks involved in it is asset management. Have you ever thought about what happens to your real estate investments if you don’t have a Will? And do we need a Will for investing in real estate?
“Absolutely yes.”, says Brian C. McMurter, a 2022 ThreeBestRated® award-winning real estate lawyer from Whitby, Ontario. He cites several reasons that uphold the significance of the Will. Let us be real. None of us would want to lose our property when we die.
Brian says, “If you die without a Will, your solely owned real estate and investment properties that you own in your name alone, or as a Tenant in Common, will be required to go through the process of obtaining a Certificate of Appointment of Estate Trustee Without a Will (Probate) to be administered and paid to your legal heirs in accordance with the predetermined distributions by law if you die without a Will.”
The distribution of such Estate to the next of Kin is set out by law, and the law does not always align with your individual wishes. It also does not allow you to take advantage of strategic tax planning that may be available to you with a Will, or give you the ability to hold monies in trust for young family members beyond the age of 18.
Perks of having a Will for your investment:
- Having a Will may reduce costs and expenses with processing your estate and may reduce Estate Administration Tax payable.
- Having a Will ensures your estate is handled by the person you appoint and that your real estate investment is distributed exactly how you want.
It concludes to the point that if you want your investments to be passed on to your heirs, having a Will ensures the process will go exactly as planned after you die.
About BRIAN C. MCMURTER – MCMURTER & ASSOCIATES
Brian C. McMurter is a Prominent, Whitby based real estate lawyer who specializes in Real Estate and Wills & Estates. Brian McMurter was called to the Bar in 1981 and has built his firm, McMurter & Associates, around helping people during some of the biggest transitions in their lives.
Whether it is buying that first home or investment property or crafting a Will or estate plan for the future, the lawyers at McMurter & Associates take the time to educate every client about the process. Known across the Durham Region for his “No Surprises” approach to fees, clients, as well as strategic partners, rest easy knowing that they are in good hands with McMurter & Associates.
Brian C. McMurter has been honoured with the 2022 ThreeBestRated award for his practice. Upon winning the award, he says, “It is very gratifying to know that our community has rated us so highly. Being listed as one of the Three Best Rated® is proof that our focused approach on being open and honest with our clients about our process and being transparent about our costs is the right one.”
Brian and his lawyers at the McMurter & Associates take immense pride in getting 90% of their business through referrals. Brain says, “It reflects our commitment to delivering a client experience that is worth talking about.” Brian believes that each client deserves the best. His team strives to deliver that kind of legal service to their clients. All the lawyers in McMurter & Associates are available by phone, email or appointment to discuss matters at any time. To get in touch, visit – https://www.mcmurter.com/.
About ThreeBestRated
Three Best Rated® was created in 2014 with the simple goal of finding the top 3 local businesses, professionals, restaurants, health care providers, and everything in-between, in any city. Every business is meticulously handpicked by our employees. We check business’s reputation, history, complaints, ratings, proximity, satisfaction, trust, cost, general excellence, reviews, and more, using our 50-Point Inspection. We only display businesses that are verified by our employees. Other places will call this “hard work” and “unnecessary”. We call it “due diligence” and “the right thing to do”. Our website is updated on a regular basis for quality and the latest business information.
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