10
The Notary
Corner
By Editha Corrales Nelson
Immigration Consultant, Notary
Public, Mediation / Arbitrator
1. Create Certainty
when There Are Changes
in Your Family
Creating a Will and
ensuring that all documents
are up-to-date is very
important for the many
people whose relationship
status
has
changed.
Changes
can
include
marriage,
separation,
divorce, or a birth or a
death in the family.
A Will ensures your
assets are divided or
assigned just the way you
currently wish them to be.
2. Arrange Long-
Term Care for Dependent
Children
A Will enables you to
designate who would care
for your dependent children
if you die.
While that is something
most parents don’t want to
have to think about, if you
don’t designate custody,
the decision may be made
by a stranger through the
BC Court system.
3. Protect Your Pets
For many British
Columbians,
pets
are
family. Most people want
PHILIPPINE ASIAN NEWS TODAY April 16 - 30, 2017
5 Essential Points Why You Should
Have a Will
to ensure their
pets will continue
to receive loving care, as
they do now, if something
happens to the owner.
A Will can designate
those provisions.
4. Reduce Conflict
within the Family
Careful planning now
with a legal professional
can eliminate—or at least
reduce—stress,
taxes,
and conflict among loved
ones of the deceased.
Without personal planning
documents, there can
be doubt, anxiety, hurt
feelings, and delays. The
kindest thing you can do
for your loved ones is to
have your legal affairs in
good order.
5.
Solidify
Circumstances
around
Homeownership
If you share ownership
of your home with a partner
or others, it’s important to
understand exactly how
you own the property.
Shared
ownership
can be structured in various
ways. That structure directly
impacts what happens
to the ownership of your
home if you die.
I can do a title search
for you and then discuss the
various options available
to ensure your wishes are
feasible and that your Will
is clear.
A Canadian Certified
Immigration Consultant,
Certified Senior Advisor
and a Notary Public in the
City of Burnaby, Editha
Corrales Nelson’s preferred
areas of practice are
Powers of Attorney, Wills
Preparation, International
Legal Documents, Name
Changes, Affidavits, Letters
of Invitation, Statutory
Declarations, Drafting of
Business Contracts and
other notarial services. For
an appointment, please
call: 604-777-2757.
*****
The following should
not be construed as
providing legal advice and
information in this column
is intended only as a
general guide and should
not be applied to specific
circumstances
without
further consultation. For
more information on the
subject, contact Editha
Corrales Nelson at 604-
777-2757
or
email:
[email protected].
*****
Need Financing for you Business?
MYLENE LIM, AMP
Licensed Mortgage Specialist
One of the major keys to
success in business is to use
as little of your own cash as
possible, as a business owner,
you know the advantage of
financial leverage. This is
more so true for businesses
that
require
extensive
capitalization to invest in land,
equipment, machineries, raw
material and inventory before
they could start generating
revenues.
Businesses are built
on cash flow and leverage.
It’s not a sound move to use
up all your cash to purchase
something upfront that will
only generate income in
the future. You will be tying
down your cash, which you
could have used for inventory,
payroll, rent, etc. So, this is
where Leasing and Factoring
can play vital parts in your
business.
Leasing
the
land,
warehouse, equipment and
machineries you need to
operate your business can
drastically cut down the cash
component you will need to
fork out. You would also be
able to get more inventories
that you need without having
to wait at a future date when
there’s more cash available.
And the chances of having
“extra cash” in a growing
business are rather slim to
none.
Factoring can also
help ease your cash flow
constraints. In the same way
that it’s usually not a good
idea to fully pay equipment
upfront, it doesn’t make sense
to carry accounts receivable,
especially if your clients enjoy
a term of 60 days or more.
Simplified, factoring is selling
your accounts receivable
(i.e., invoices) to a third
party (factor) at a discount.
You get money for your
discounted receivables right
away from factors who will
in turn, wait for the maturity
of the receivables before
they can get their payments.
Factors also do credit checks
which gives you a good
backgrounder on the financial
dealings of your customers.
The time and effort required
to collect receivables from
your customers can now be
utilized for more productive
pursuits.
The bottom line is that
by leasing and factoring, you
can free up more cash that
you can use to generate more
revenues. There are also
other advantages with leasing
and factoring: 1) you can
incorporate the cost of leasing
and factoring in your monthly
expenditures to come up with
your profit & loss numbers,
and adjust your profitability
margins accordingly, 2) you
WWW.PHILIPPINEASIA