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Arcus Legal is pleased to welcome our newest member, Dakota MacPherson.
Dakota is a recent graduate from Nova Scotia Community College’s Paralegal Services program. She is deeply enthusiastic about understanding the intricacies of the legal system, and she is excited to dive headfirst into her role here at Arcus. When she’s not at work, you can find her spending quality time with her dogs, Arya and Loki.
Commercial leases play a crucial role in establishing the relationship between landlords and tenants. However, many tenants in Nova Scotia may not be aware of the potential ramifications of signing a lease agreement without a termination clause. This essay serves as a cautionary tale, highlighting the risks and liabilities commercial tenants may face if their lease agreement lacks a termination clause.
1. Understanding the Termination Clause:
A termination clause in a commercial lease provides tenants with the right to end the lease agreement prematurely, subject to specific conditions or penalties as outlined in the clause. Without a termination clause, tenants may find themselves bound to the lease for the entire term, regardless of their circumstances or changing business needs.… [Read more]
Family Trust is a legal arrangement in which a person, known as the settlor, transfers assets (such as money, real estate, or investments) to a trust that is managed by one or more trustees for the benefit of designated beneficiaries. The beneficiaries are typically family members, such as a spouse, children, or grandchildren.
In Nova Scotia, Family Trusts can be established as either an Inter Vivos Trust (created during the settlor’s lifetime) or a Testamentary Trust (created upon the settlor’s death through their Will). Family Trusts can offer various benefits, including:
1. Tax planning: A Family Trust can help minimize taxes under very specific circumstances and mostly in the case where there is a sale of an active business owned by the trust.… [Read more]