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Succession Law Reform Act as an important Will estate law Mississauga

admin — Fri, 16 Mar 2018 12:02:08 +0000

Real Estate attorneys have always advocated the importance of maintaining a will for estate planning. And many clients adhere to that advice and plan how their assets will be disposed post death.

Succession Law Reform Act (SLRA) gives an individual a right to draft a will to dispose their valuable assets and property upon their death as they deem fit.

But still, some people can’t enough take time off work to think about this very important aspect of estate planning. When a person dies without leaving a will, it’s said to have died intestate and his/her property becomes subject to SLRA Part 2 that deals with rules of intestacy.

What it’s all about? Learn the key points from Will and Estate Law experts at NDM Law in Mississauga.

In case a will has been drafted

If a will has been drafted by the deceased that meets the statutory requirements of being considered valid, it will come into effect upon testator’s death and the valuable assets and property will be disposed of as instructed in the will. This is as per SLRA.

In case a person dies intestate

There is a complete list of rules pertaining to intestate succession, grouped in Part 2 of SLRA. Certain guidelines are set according to this part of the act and deceased’s property is disposed of in accordance with these guidelines.

The entire property and assets are pooled together and distributed among spouse and children as stated in the guidelines.

Everyone one should be aware of these guidelines. Inadequate knowledge can be troublesome in understanding the complicated norms of this act. These guidelines can at times go against the usual perspective of spouse and children of deceased.

For an instance, in the absence of joint tenancy of home between the deceased and his/her partner, ownership of the house will not get transferred to the partner. In that case, if the share of spouse/ children does not cover the whole value of home, they’ll have to buy the remaining share.

Also, this law does not recognize a ‘common law partner’ as spouse and the former is entitled to only dependent support upon the death of partner.

Will and Real Estate experts at NDM Law recommend everyone to go through these norms and understand it’s pros and cons in detail. Seek professional legal help to draft a will.

The post Succession Law Reform Act as an important Will estate law Mississauga first appeared on NDM LAW.

How plaintiff’s actions affect their claim under Personal Injury Law, Mississauga?

admin — Fri, 16 Mar 2018 12:01:39 +0000

Personal injury law is a complicated area that requires an in-depth knowledge of when a plaintiff is entitled to claim and where the rights are infringed. Knowledge regarding insurance laws is also imperative. Each year, numerous cases related to personal injury reach court and then the situation is viewed from all aspects. In that case, it’s not necessary that plaintiff is always right. Sometimes, accidents that lead to personal injury can be caused by plaintiff’s own negligence or fault and in that case, damage amount may get reduced to a large extent. NDM Law, specialists of personal injury law in Mississauga hereby tell you about the various conditions on which the damage amount may be reduced or cancelled altogether.

Motor Vehicle Accident

In case of motor vehicle injury, certain things are taken into consideration. Even if the insurance covers motor vehicle injury, it’s investigated if plaintiff was wearing seat belt or not, or of he/she was wearing helmet or not. In that case, their contribution to injury is considered as 15-25% and 10-15% respectively. But this is only applicable if the defendant proves that the use of seatbelt or a helmet would have resulted in prevention of injury or reduction in the degree of injury. In that case, the accused or the person at fault can claim a reduction in the damage amount. Apart from that, damages are also reduced if plaintiff was driving in an inebriated state or under the influence of alcohol. The amount of alcohol being enough to mess up with his decision making. In that case too, the plaintiff is considered 25-45% contributory to the injury.

Not seeking immediate medical help

According to law, it’s the plaintiff’s duty to mitigate the effects of injury by seeking timely medical treatment. If the plaintiff fails to seek medical attention and vocational job placement retraining even when it was possible for him/her, the damages awarded may be reduced significantly. Because not seeking medical attention at the right time worsens injury and needs much larger intervention. Thus, the contribution of negligence cannot be overlooked. Personal injury is a traumatic experience but damages when paid somewhat reduce the suffering. Seek legal representation upon incurring a personal injury to get the damage amount you deserve.

The post How plaintiff’s actions affect their claim under Personal Injury Law, Mississauga? first appeared on NDM LAW.

Pre-nuptial or Cohabitation agreements- Hear from providers of family legal advice in Mississauga

admin — Fri, 16 Mar 2018 12:01:08 +0000

When a couple decides to take their relationship to the next level, many doubts and questions may cloud their thoughts. One major concern is the Pre-nuptial or Cohab Agreement that pertains to the agreement on their joint and separate financial assets. Now the question many couples ask is, whether to go about it or not.

NDM Law, the Ontario based law firm providing family legal advice in Mississauga, tells here about the pros and cons of entering a prenup or Cohab and what all things have to be kept in mind before considering this agreement.

Think Positive

We’ve come across couples who consider prenup or Cohab as a negative attribute as it implies that they are looking forward to the end of their relationship and preparing for the same. But it’s not the case. As a matter of fact, these agreements keep your finances sorted in case you decide to separate. It shouldn’t be seen as a prediction of Doomsday but instead, it’s the protective shield akin to an insurance.

It also builds trust as opposed to the popular notion that it’s the result of lack of trust. Before entering this agreement, both parties have to disclose their financial assets, how much they own, owe, and earn. That helps keep financial transparency in a relationship, the lack of which is one of the major causes of divorces. Everything from property title and contribution to property will be mentioned in detail.

It’s not engraved in stone

You may have entered into a no financial flow agreement upon separation. And that was fine according to your then circumstances. But with time, you purchased joint property, you had kids, and medical expenses if any. So with the change in time and circumstances, the terms of your original agreement may or may not be valid. Court may not rule in the favor of no financial flow and child support may have to be paid.

It’s very important to future proof your agreement after consulting a good legal firm that offers family legal advice in Mississauga. Keep in mind the “what ifs” before you set the terms. Be prepared for change in circumstances and think one step ahead.

The post Pre-nuptial or Cohabitation agreements- Hear from providers of family legal advice in Mississauga first appeared on NDM LAW.

Hear from Real Estate Law Firm in Mississauga about New Regulations for condo management

admin — Fri, 16 Mar 2018 12:00:33 +0000

2018 has been filled with surprises so far, with many new rules and regulations getting implemented in the beginning of this year. Apart from tax changes in private corporate sector, significant changes have been proposed in real estate legal sector. We’re talking about the Condo Management Services Act which will come into effect from February 1st, 2018. New provisions of this act will be implemented on the said date which includes some key law changes to Ontario condo industry. This law attempts to completely eradicate the present discrepancies in the management of condominiums. These changes pertain to condo managers. The real estate law firm in Mississauga, NDM Law, hereby explains the New Code of Ethics under Regulation 3/18.

Code of Ethics

The New Code of Ethics, under Regulation 3/18 of the Condo Management Services Act is the final adopted version of draft Code of Ethics proposed in September 2017. Key points included in Code of Ethics are:

Managers shall be fair and honest while providing their services and shall treat every person with equality and integrity. They must deal with people without any discrimination and must provide reasonable accommodations for persons with disabilities.
Managers must not indulge in fraudulent or unethical practice and must do what’s in their capacity to avoid error, misrepresentation, fraudulent or unethical practices. That includes misrepresentation of type, class, and conditions of their license.
Managers shouldn’t provide any opinion or advice beyond their area of expertise or capacity.
Mandatory use of current forms and documents with proper maintenance of past records.
Managers shall be responsible financially for providing condo management services.
Shall not indulge in unlawful, dishonorable, unethical, or unprofessional practices barred for a licensee.
They shall not misrepresent or exaggerate facts related to condo units and present them as it is to the occupants.
Occupants must be informed of all the managerial steps being taken by them from time to time.
They shall not disclose confidential information related to clients to any third party.
They shall work in the best interest of the occupants.

These are just the key points. Know about the complete obligations of New Code of Ethics along with the Disciplinary Committee changes, Complaints Procedure, and Insurance Regulations, contact NDM Law’s best Real Estate Law Firm in Mississauga. They’ll provide appropriate guidance in legal matters pertaining to real estate sector in Mississauga and entire GTA.

The post Hear from Real Estate Law Firm in Mississauga about New Regulations for condo management first appeared on NDM LAW.