Certain Properties under the Family Law Act are excluded from the calculation of Net Family Property (NFP). The NFP is calculated as of the Valuation date, which is usually the separation date and includes the details of assets, debts and liabilities for equalization. Certain properties are not shared between spouses. Such properties are shown as excluded properties on the NFP does not become part of the net family property. NFP is the total of all the assets less the liabilities and less the excluded properties.
are as follows:
- Gifts or inheritances received from
third persons during the marriage
- Income of such gifts and inheritances,
- Insurance proceeds
- Court settlements
- Properties agreed by spouses by
signing a domestic contracts
- Properties other than matrimonial
home, if traced as a property mentioned above
NFP is the total of
all the assets less the liabilites and less the excluded properties. The spouse
whose NFP is more will give the other spouse one-half of the difference between
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for more information.
If you are living in Ontario and have properties in your home country or any other country that you want to sell or you want to buy property in your home country or any other country, you could so without being physically present in that country to complete the transaction. You could complete the transaction by executing a specific Power of Attorney.
What is a specific Power of Attorney and how to get one?
A Power of Attorney is a legal document whereby you authorize another person to do or perform acts and deeds on your behalf.
This can be effected in the
- First step is to consider who you want to appoint as your attorney. You have to appoint someone you trust and who lives in that country. He/she could be your lawyer or real estate professional, relatives or family friends. The Power of Attorney will be executed in favour of this person who is usually referred to as ‘Attorney’ in the Power of Attorney.
- Once you have decided who will be your Attorney, have your lawyer draft the Special Power of Attorney. You will sign the Power of Attorney in the presence of two witnesses and a notary.
- In order for the Power of Attorney to be recognized in a foreign country, it is must be authenticated and legalized.
- The executed SPA will empower and duly authorize the
appointed Attorney/agent, to sign, execute and deliver the necessary conveyance and Deed of Sale/Purchase
documents for and on your behalf without you being physically present in that country.
Since the laws of each country are different, it is advisable to seek legal advice from a lawyer in the country you are buying or selling prior to preparing and executing the SPA.
Call us @905-290-7205 for more information.
January 8 2016.
CONSENT LETTER FOR THE CHILDREN TRAVELLING ABROAD
Are you sending your minor child or children abroad alone or without one parent abroad? If yes, there are some concerns that you should be aware of. What are these concerns? These concerns could be the identity of the child, why the child/children are travelling without the parents, who is the child traveling with, are the parents aware of it, have the parents given their permission to travel without them.
Remember one thing: the main focus is “identification and safety of the child or children and identification of the person accompanying the child or children.”
What you should do?
- Your child or children should be in possession of a travel consent letter if the minor child or children are travelling alone or with one parent or with family or are going on a school trip. The Government of Canada strongly recommends this. It make it easier and a safe travel for Canadian children, as it may be requested by immigration authorities when entering or leaving a foreign country or by Canadian officials when re-entering Canada. The consent letter confirms that the child or children have permission to travel abroad from parents or guardians who are not accompanying them.
- It is recommended that the consent letter must be notarized by a Notary Public appointed by the Government and who has the authority to administer oaths and declarations.
- If parents are separated or divorced, it is recommended that you check with embassy of the destination country if they would require any additional document like separation agreement or court order. You may also check this with the concerned Airlines at the time of buying ticket.
I can prepare and notarize travel consent letters at my office. If you have any question on the consent letter, please address to me when you come to my office.
Please make sure when you come to my office you bring all the relevant original identification documents of the child and yourself like passport, birth certificate, citizenship card.
Should you need any legal help concerning consent letter or any other matter relating to Immigration Law, please address to me. Do not hesitate in calling my office to book your appointment.
You may also check this link. http://travel.gc.ca/travelling/children/consent-letter/faq
Please note that this is for information only and not to be considered a legal opinion or advice and each situation is different. This information does not constitute client relationship. You need to check up with me along with details of your case.
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