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Old 09-08-2017, 08:14 PM
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Quote:
Originally Posted by arabian View Post
I owned a business for 30 years. Don't be duped. Quit listening to the nonsense your ex feeds you. If you are a "director" in an incorporated business you are liable for many things, including debt (employee CPP, EI, taxes) owed by the business. I know this with certainty. I lost over 200k with the same incorrect information you have received. Also, did you know that family law "trumps" corporate law if you are in partnership with your ex? I didn't know this.... many things I didn't know.

Get paid through FRO. Trust me. You will be sorry if you don't.

Matrimonial home needs a judge's order to sell. Don't ever forget that.

MAKE SURE YOUR LAWYER HAS BUSINESS EXPERIENCE OR YOU WILL PAY $$$ Preferably a business degree as well as a law degree
Wives of lawyers aren't in business with them, the LSUC prohibits anyone other than a licenced member of the LSUC to own/be on paper. At the moment, lawyers aren't allowed to have family members as non-voting shareholders of their PC's. [interesting off comment - doctors, chiro's, optometrists, etc. are permitted have family members as non-voting shareholders]

.. In any event, writing a monthly cheque from the practice to the wife "employee" is another form of income splitting. And registering the matrimonial home in the name of the wife [non-business partner] is a form of excluding personal assets from professional assets for liability purposes. We all do it.
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