AREAS OF PRACTICE
PERSONAL INJURY Law
Whether you or your loved one’s personal injury resulted from a collision involving another vehicle, or from a fire, fall, crush, or drop; or have been are hurt by someone’s negligence, you need a lawyer. Contact us immediately for your free consultation so we can get your claim on the right path.
For over 25 years, our team has been dedicated to assisting individuals during the stressful aftermath of a motor vehicle collision or other traumatic injury. We assist our clients by putting their claim on the path to resolution, providing them with strong representation to assist in dealing with insurance companies and to protect and preserve their rights.
We represent our clients in these matters on a contingency basis and we can assist individuals who come from anywhere in Alberta.
For more details, please contact us.
REAL ESTATE Law (RESIDENTIAL AND COMMERCIAL)
For many people, the most valuable and important asset they will own is their home. Whether you are purchasing or selling your home, or buying or selling commercial property, you need a lawyer with the skill and experience to make sure that the transaction is completed in a professional manner that adequately protects your interests. At Tarrabain & Company we have been serving clients in this area of law for over 25 years and have the skill and experience to assist you with the following:
Residential real estate purchases
Residential real estate sales
Refinancing your home
Commercial real estate purchases
Commercial real estate sales
Commercial real estate financing and refinancing
If you are buying, selling, or refinancing property in Edmonton or anywhere else in Alberta or Canada, we would be pleased to assist you.
WILLS AND ESTATES
At Tarrabain & Company we offer a number of will and estate law services, which include:
Providing legal advice
Drafting and preparing Wills
Drafting and preparing Enduring Powers of Attorney
Drafting and preparing Personal Directives
If you are interested in our services or have any questions regarding Wills, Enduring Powers of Attorney, or Personal Directives, please contact us.
IMPORTANCE OF HAVING A WILL
It is important for anyone over the age of 18 in Alberta to have a Will. If you are under 18 years of age and have a child or are married, you may also consider a Will. You want to be the one who decides who gets your things and your money and who will represent you to carry out your wishes. If you do not have a Will, your representative and to whom your things go, is governed by Statute.
It is also imperative that you ensure it is you who chooses the guardian(s) of your young children to avoid court proceedings or custody battles among your surviving relatives or friends.
ENDURING POWERS OF ATTORNEY
If you are no longer able to make decisions for yourself due to illness or injury, or you become infirm, then your children, your spouse, a family member or friend you trust will need to care for you. In order to care for you, a trusted friend or family member may need to access your assets. Unless you have an Enduring Power of Attorney, that trusted friend may need to go to Court to obtain that right. An application under the Dependent Adults Act is stressful and costly, and can take a very long time when there may be urgent matters that require immediate attention.
An Enduring Power of Attorney does not come into effect unless and until the contingency set out by you occurs. An attorney in this context means your trustee or agent you have appointed to be responsible to act in your best interests. This means making decisions on your behalf. They are answerable to the Court for their actions, however, they are not answerable to curious friends and family members generally. Your affairs remain your personal, confidential business and the attorney keeps that confidence and reports to the Court if family members become concerned about their actions.
PERSONAL DIRECTIVES
A Personal Directive is the document hospitals and extended care homes often ask you for upon being admitted. Some people refer to a Personal Directive as a Living Will. The Personal Directive allows you to appoint someone, you trust, as your agent to make decisions about your personal care, health care, and living arrangements when you are unable to make those decisions for yourself. Having a Personal Directive will relieve your family of the need to make application to the Court to appoint one of them as your Guardian so that they can make the decisions for you.
A Personal Directive comes into effect as soon as you become mentally incapacitated or upon the occurrence of the contingencies set out in your Personal Directive.
Legally, you can appoint more than one agent, however, that often causes difficulties if they do not quickly agree on what is to be done. You should chose an agent who is familiar with your beliefs and with whom you have had discussions regarding your wishes for where you would like to live, what activities you want to take part in, what types of medical treatments you wish and whether or not you wish extraordinary measures to be taken to keep you alive in certain circumstances. Your agent is to make decisions she/he believes you would have made yourself in the circumstances.
CORPORATE COMMERCIAL LAW
At Tarrabain & Company we have a long history of helping serve private small business owners. Whether you are an experienced entrepreneur or are just starting a company, we can help you with the following:
Incorporating your company
Purchase and sale of businesses
Negotiations and contract disputes
Business and corporate financing
Incorporating your company
An Alberta incorporation package includes article of incorporation, by laws, ledgers, corporate seal, Shareholder and Director Meeting Minutes and a Corporate Minutebook.
There are many advantages and some disadvantages to setting up your business as a corporation.
Advantages
The main advantage to incorporating is the limited liability of the incorporated company. In a sole proprietorship, the business owner assumes all the liability of the company. With a corporation, an individual shareholder's liability is limited to the percentage of their shareholding.
A corporation has the potential for an unlimited lifespan; the corporation will continue to exist even if the shareholders die or leave the business, or if the ownership of the business changes, this gives it longevity and the ability to pass down for generations.
Selling a corporation is more straightforward and possibly more attractive on the market than a sole proprietorship or partnership.
It can be easier to grow and develop and raise money for a corporation.
The income tax advantages are numerous and include; determining when and how you receive income from the business, a tax deferral ability, a lower tax rate, income splitting, etc. The taxation is complicated and must be discussed with your accountant
Disadvantages
Some disadvantages of incorporating is that it may actually be a tax disadvantage for your business in that there are no personal tax credits and limited flexibility for losses. Every dollar a corporation earned is taxed. As a sole proprietor, you may be able to claim tax credits a corporation could not.
You should discuss your personal situation with your accountant and, if some type of formal business structure is recommended, call us to discuss your needs.