@ Oscar7
To be honest, my lawyer (not consultant) who happens to be one of the top Canadian Lawyers (by various entities... have no clue how many of them are owned by him).......... advised me against declaring all assets and even settlement fund
As per him, only include
Liabilities: personal loans, mortgages, CC loan (i even paid the monthly bill before due date to avoid including it).
Settlement fund: (reasonably above required). I only used my Salary account and Mutual fund portfolio...... he did not lemme use my bank account back home (which i intend to take along).
Assets: only the settlement fund. Did not lemme use properties (in the form of residential land).
He was of the opinion that additional assets and settlement fund ..... will delay the processing. Only provide info which is asked.
Net net, his point was CIC's main concern is settlement fund. DON'T SHOW EXTRA ASSETS (no point for net-worth) and DONT HIDE any liability which CIC has specifically asked or that can impact transfer of funds (due to encumbrance or iliquidity of asset (land/house) to generate cash for settlement of liability).
To be honest, my lawyer (not consultant) who happens to be one of the top Canadian Lawyers (by various entities... have no clue how many of them are owned by him).......... advised me against declaring all assets and even settlement fund
As per him, only include
Liabilities: personal loans, mortgages, CC loan (i even paid the monthly bill before due date to avoid including it).
Settlement fund: (reasonably above required). I only used my Salary account and Mutual fund portfolio...... he did not lemme use my bank account back home (which i intend to take along).
Assets: only the settlement fund. Did not lemme use properties (in the form of residential land).
He was of the opinion that additional assets and settlement fund ..... will delay the processing. Only provide info which is asked.
Net net, his point was CIC's main concern is settlement fund. DON'T SHOW EXTRA ASSETS (no point for net-worth) and DONT HIDE any liability which CIC has specifically asked or that can impact transfer of funds (due to encumbrance or iliquidity of asset (land/house) to generate cash for settlement of liability).
Oscar7 said:Okay, on that note do all people declare the assets and liabilities completely - I know a whole lot that don't. Many just pay attention to settlement funds (not so much to the other two). Let's leave them for now.
Have you declared all assets in the entirety? And same for liabilities?
Same question for Shah as well..
PS - Can answer all this in PM, if you guys prefer that instead