Join us as we provide a practical summary of recent legislative developments impacting the industry, ID verification rules and procedures, the CRA’s new trust reporting rules, legal advice for bare trustees, and essential tax considerations impacting real estate practitioners.
Categories: CPD
Article highlights: 1.For funds to be truly irrevocable, you need a PCRN. Anything else is a risk. 2.“On-Us” funds (e.g. when the payee and the payor are at different branches of the same financial institution) are safe and you can proceed. 3. Just because a bank releases your funds – even after a hold period… Read More »
Categories: Online Only
This program will cover what every lawyer and law firm should know to adequately prepare themselves for potential absences from their practice—whether short-term, long-term, or permanent. The program will provide helpful advice on what practitioners should do now to prepare their practice and affairs for when they may need to step away in the future…. Read More »
Categories: CPD
In the nineteenth century, American journalists and law enforcement coined the term “confidence artist” to describe a form of fraud that preys on the trust and credulity of its target. The form these frauds took was always changing but relied on the good faith of the target and either a promise of profit or a… Read More »
Categories: 2024 March, Articles, Cyber dangers, Fraud
Could it happen to you? If you have a trust account, then you’re at risk. We are seeing a sharp increase in social engineering fraud against law firms and their clients, where the goal is to divert funds to fraudsters’ accounts. When money gets diverted, the lawyer and/or the client is out of funds. For… Read More »
Categories: 2024 March, Articles, Cyber dangers, Fraud
Decision fatigue is the decline in energy and focus you experience after making decisions or engaging in mundane tasks. This mental drain can cause you to seek immediate rewards, which can lead to poor decision making and inefficient or irrational behavior. Here are five ways you can manage your daily schedule to stay focused and… Read More »
Categories: 2024 March, Articles, Wellness
What is a client portal? Wikipedia defines the term client portal as “an electronic gateway to a collection of digital files, services, and information, accessible over the Internet through a web browser. the term is most often applied to a sharing mechanism between an organization and its clients.” Why is it important for lawyers to… Read More »
Categories: 2024 March, Articles, Firm Management, Legal Careers, Legal Technology
You may recall the title as a lyric from a song in a popular kids show many years ago, reinforcing the benefits of being aware and noticing differences. This same lesson applies when comparing the legal protection coverages offered by other title insurers that compete with the Legal Service Coverage that’s included in TitlePLUS policies…. Read More »
Categories: 2024 March, Articles, Real Estate, Title insurance, TitlePLUS
Today, February 28, 2024, the Ministry of the Attorney General of Ontario has informed the public and the profession that administrative dismissals of Superior Court civil actions that have not been set down for trial within 5 years, or have been struck off a trial list and have not been restored within 2 years of… Read More »
Categories: Civil Litigation
[Updated March 28, 2024] This year’s tax filing season may be looking different for some people and corporate entities due to new trust reporting rules. These changes, while presenting challenges, also offer legal professionals an opportunity to educate their clients. Overview Previously, trusts were only required to file a T3 Trust Income Tax and Information… Read More »
Categories: Corporate Law, Family, Online Only, Real Estate, Tax, Wills & EstatesLand Acknowledgement
The offices of LAWPRO are located on the traditional territory of many nations including the Mississaugas of the Credit, Anishnabeg, Chippewa, Haudenosaunee and Wendat peoples. Toronto is covered by Treaty 13 with the Mississaugas of the Credit. LAWPRO respects and acknowledges the histories, languages, knowledge systems, and cultures of First Nations, Metis, and Inuit nations.
