Have you ever heard phrases like “Probate an estate,” “Probate a Will,” “applying for Probate,” or “Grant of Probate”? Have you ever wondered what these phrases mean, whether they are referring to the same thing or whether they are referring to different things? If the answer is yes, you have come to the right place.
Author: Mark-John
Are shareholders legally responsible for paying debts of the company?
In today’s world, companies play an integral role in our society. People work as employees of companies and people have funds invested in companies through their pensions, mutual funds or owning shares directly.
What are the benefits of incorporation?
To a person living in the 19th century, an apple could have meant only one thing, the fruit. To Sir Isaac Newton, an apple meant the Universal Law of Gravitation. To us, or at least to me, an apple could mean the fruit or the new IPhone. As everyone knows, Apple is a company manufacturing consumer electronics, such as smart phones, computers, and tablets. Also, Apple is an incorporated company. Although I do think Apple’s success is due in large part to its hard working employees and Steve Jobs, I wonder if the form of organization Apple has adopted allowed Apple to be so successful. Then, you may ask: “what is an incorporated company?” You may also ask: “what are the benefits of incorporation?” In today’s article, I will attempt to answer these questions. However, be warned, I am not Steve Jobs. Continue reading →
Forms of Business in British Columbia
You may have heard your friend or family member saying that they are carrying on business as a sole proprietor or as a partner. You may also know a friend or family member who is a shareholder of a company or you may be a shareholder yourself. However, what does it mean to be a sole proprietor, a partner or a shareholder? What are the differences? Most of all, why does it matter? In today’s article, we will answer those questions.
What type of property is excluded from division in the case of a separation between me and my spouse?
There is a lot of confusion by clients relating to what property is excluded from division when a couple separates in British Columbia. This article will explain what is excluded property and how excluded property is determined.
When do I become a spouse for the purpose of property division under the Family Law Act in B.C.?
People often wonder if the property division rules in the Family Law Act of B.C. apply to their relationship. In order to answer that question, it is important to determine if you are a spouse as defined in the Family Law Act.
Continue reading →
How do I Prove I am Separated if I Still Live Under the Same Roof as my Partner?
Due to the high cost of living, it is becoming more frequent today for couples who no longer consider themselves to be partners to stay living in the same house or apartment because they can’t afford to do anything else. As such, you may wonder how to prove you are legally separated in BC while still living together.
Continue reading →
Are Same Sex Couples Spouses Under the Family Law Act?
While it is common knowledge that same sex marriage is legal in Canada, we often receive calls from people who want to know their rights or obligations as a spouse or parent in a same sex relationship.
Continue reading →
When Can a Beneficiary Receive their Share of the Estate?
As soon as someone is informed that she/he is named as a beneficiary of an estate, the first question that comes to mind is “When can a beneficiary receive their share of the estate?” or in short, when do I get the cheque?
If I paid the down payment on the house from money I had before the relationship started, do we have to split the family house equally in the case of separation or divorce?
People often wonder in the case of separation what happens to the family home if one spouse contributed money they had before the relationship to the purchase of the family home. They wonder if their down payment on the family home will be divided when they separate or divorce or if it will be excluded from the division of family property.
Continue reading →
New Brochure on What to Do When a Death Occurs in Your Family
For any family, a death is extremely difficult to cope with. Not only family members will be emotionally devastated by the loss of their loved one, but some families will find themselves financially impacted by the loss. Also, families are often puzzled on what they should do following a death. In order to help you in this very difficult time, we created the brochure to provide you with some of the crucial information you need to know when a death occurs.
What You Need to Know About the Proceeds of Crime (Money Laundering) and Terrorist Financing Act
On May 26, 2014 we gave a free lecture at the People’s Law School in Vancouver on What You Need to Know About the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It was well attended with financial services professionals, accountants and interested members of the general public. For those who were unable to attend, this article will give you a brief overview of the lecture on the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Continue reading →
Why a Prenuptial Agreement or Cohabitation Agreement is Essential under the Family Law Act
The new Family Law Act “FLA” which came into force in March 2013 modernized the law on family relationships. The FLA is a substantial shift from the previous law – the Family Relations Act. This article will deal with the new property division regimes under the FLA and why a prenuptial agreement or cohabitation agreement is essential for any party with assets and/or children from a previous relationship. Continue reading →
The Importance of the Financial Advisor in the Collaborative Divorce Process
The financial advisor is an important element to a successful Collaborative Divorce process. Collaborative Divorce is a process that divorcing or separating spouses use to resolve issues resulting from the breakdown of their relationship. The goal in Collaborative Divorce is to resolve these issues in a non adversarial manner. The aim is to minimize or eliminate negative economic, social, and emotional consequences of litigation on those involved and their families. Continue reading →
Mediation as an Alternative to Court
Mediation is growing fast as an alternative to court. Not only in resolving civil disputes such as ICBC claims, workplace disputes, estate disputes and business disputes to name just a few, but in all aspects of human conflict. In Small Claims Court, mediation is often the first step in the court process. Also, under the recent Family Law Act, mediation and Alternative Dispute Resolution “ADR” is encouraged as an alternative and preferred way to resolve family disputes. Continue reading →