Knock, Knock, knocking on Opportunity’s door…the importance of actively pursuing your dreams

The race is not for the swift but for those who can endure. You cannot catch fish, if you do not lower the rod in the water. You can stay in the boat as long as you want, the fish will not jump into your plate. Now is the time to get up, get out and get something done in your life. Stop blaming others for the outcome of your decisions, this is your life. I am the proud guardian of 3 kittens. I have one special kitten, he has developed a system of getting my attention. The kitten has a great sense of time, he knows my bed time, he knows my departure time for work and he knows when I will return. If I leave the house and he did not anticipate that ,he sits on a pile of bricks to get a better vantage point to see my safe return. He sits outside my door on a blue mat that I bought for him. If he does not see me, he sits outside the window , where he can hear the sound of a television or music. He climbs on the rooftop to get my attention and purrs. He is always ready for the sound of the cracking of the door, when I am about to feed him. He always eats first because he is always ready for the opportunity to get my attention first. His brother and sister always eat his leftovers.

This kitten is brilliant. Instead of knocking on the door, he sleeps outside my door. He knows that I have to leave the house at some point. He makes himself comfortable on my step and he waits. How many times in life do we knock on a closed door? When we get no response, we walk away in frustration. This kitten has developed a clever system of getting what he wants. We must do the same, if we want a promotion at our job, we must actively learn what is required for the new position. Go and learn new courses, take up a new language, volunteer on the weekends to gain experience. Do not complain and take no action. If you want a boyfriend or girlfriend, become your own friend first. Discover yourself, question why you drink excessive alcohol, find out your triggers. Improve yourself, when the time is right and a partner approaches you, he or she will complement your life,not complete it.  Patience is required to wait for the opportunity to arrive, but while you wait ,you will be busy. Brother Buju Banton said that “opportunity is a scarce commodity” so you have to be prepared when it comes. The universe rewards effort. All the time and sweat that you spend perfecting your craft will return onto you seven fold. As you grow and mature, you will network and someone may open that door that you have been knocking on and invite you inside. You may be asked to provide the password to enter, this password may be a certain skill, or a different language or a certificate that you never bothered to pursue.

This is your life, so make  your bed outside the door that opens the way to the opportunity that you seek and improve yourself , while waiting for the door to open. If you become weary, sit by the window, climb on the rooftop, get the attention of the person who has to open the door for you.

About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.

Check out my Online Companies: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: @asydneygrouptt

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: https://www.youtube.com/channel/UC8-sUa8WMDJM8w5_Q3nhQ5w

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

How to Register a Limited Liability Company in Trinidad and Tobago ?Trinidad Inline Lawyer

Registering your limited liability company with the Companies Registrar has many benefits. Once you obtain the Certificate of Registration, a bank account can be opened in respect of the company and the company can enter into contracts.

There are three steps to incorporate a limited liability company in Trinidad and Tobago namely:

  1. Name Search and Reservation
  2. Incorporation documents
  3. By-Laws

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These will now be discussed in turn.

  1. Name Search and Reservation

This form has to be submitted to Registrar of Companies along with the necessary filing fee. The desired name for the company as well as two (2) alternative names must be included in the form. These alternative names will be considered in the event that the desired company name has already been registered or reserved. Once the name is reserved, the applicant has 28 days to complete the registration process. The applicant has to sign at the bottom of the Name Search form, an incorporator (attorney at law, accountant or specialized incorporator) can sign for and on behalf of the applicant. In the event that the proposed name and the two alternatives are rejected by the Registrar, a new name search must be filed. The Registrar may reject a company name for the following reasons :

(i) names prohibited by the Companies Act;

(ii) names similar to those already registered or;

(iii) a combination of general words that lack distinction or

(iv) names that are misleading to the public.

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It is wise to be specific in stating the type of services that will be offered by your company. The Registrar can request that the applicant clarify any difficulties with the proposed name by putting a query on your application. At that point, the applicant will then satisfy the Registrar’s request by writing a letter explaining why the particular name was chosen. After filing the Name Search in the appropriate form, the applicant has to return to the office of the Companies Registrar in five to seven working days to collect the response. The date for the applicant to return will be stamped on the receipt collected after the fees are paid to the cashier. If the company name is approved, the applicant can move on to the second step, that is the incorporation documents.

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  1. Incorporation documents

The four incorporation documents must be completed in duplicate and filed by the applicant along with the necessary filing fees. Be sure to keep the name approval safely and to submit same with the incorporation documents. The incorporation documents are:

(a) Articles of Incorporation;

(b) Notice of Directors;

(c) Notice of address of Registered Office

(d) Notice of Secretary(ies)

With respect to the Articles of Incorporation , the approved name of the company must be inserted. The applicant must state whether the company will be a private or public company.  The type of liability of the members must also be included whether limited or unlimited. The number of directors must be stated, by law a minimum of 2 directors are needed, a maximum of 10 directors are allowed. The name ,occupation, address and signature of the incorporator has to be included in the Articles of Incorporation. The applicant (one of the directors) also has to sign both copies of the form.

The Notice of Directors must also be completed and filed.  This form provides the names, occupation and addresses of all of the directors. It is reiterated that there must be a minimum of 2 directors and a maximum of 10 directors.

The Notice of Address of Registered Office sets out the registered address of the company. All official company documents and files must be kept here. Generally, the applicant can use his residence as the registered office, however if the applicant is seeking to open a company bank account, one bank in particular will request to see the premises to ensure that it has an office conducive to operating a business.

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The Notice of Secretaries is usually filed as part and parcel of the incorporating documents. The Board of Directors will usually appoint the Corporate Secretary, a director can also act as a Corporate Secretary. The Corporate Secretary will ensure that the company complies with statutory requirements as well as ensuring that the annual returns are filed on time. Caution should be exercised in selecting a Corporate Secretary since this person can sign the documents to dissolve the company.

Once these incorporation documents are prepared and signed, an officer at the Companies Registry will review it briefly and then direct the applicant to the cashier. The applicant will pay the relevant fees and the cashier will prepare a receipt and stamp the date for the Certificate to be collected. Usually five to seven working days, may be longer. If there are further queries by the Registrar, these will have to be satisfied.  Once the applicant returns on the stamped date, and the Certificate is produced it can be collected.

3.By-Laws

The date stated on the Certificate of Incorporation will be deemed the date of incorporation of the company. This is relevant to the entering of contracts by the company and the opening of company accounts.  The next step after the issue of the Certificate is the development of By Laws to conduct the affairs of the company. This document is not filed at the Companies Registry, particularly for companies for profit. The By Laws will be kept at the registered office of the company.

Please be guided that Annual Returns have be filed at the Companies Registry yearly. The company must also  acquire a Board of Inland Revenue number, register for VAT where applicable, and other statutory taxes. The company may also have to be registered with the Financial Intelligence Unit if it is considered a Listed Business as per FIU Regulations.

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Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

Last Updated 17th September 2019

About the Author:

About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.

Check out my Online Companies: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: @asydneygrouptt

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: https://www.youtube.com/channel/UC8-sUa8WMDJM8w5_Q3nhQ5w

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

Will you prepare a WILL?

A farmer told me that the best of the crop should be kept for your children, the remainder should be offered for sale. He said it takes the average man 10 years to learn this lesson. He lamented that many men are not concerned with the well-being of their seeds once planted. These seeds do not receive water from their planter during the lifetime of the latter. It cannot reasonably be expected that the seeds will receive fertilizer following the planter’s death. For those farmers who are concerned with the future of the spouse and children, please read the following and take action forthwith.

While the realization of the need to prepare a Will is unpleasant, it is a necessary task because you are actively planning to provide for your family after your exit from this lifetime. Creating your Will is the first step in a two-step process. The second step is safely storing your Will. It is prudent to ensure that the Testator (person who creates the Will) has title to all the assets that the Testator purports to distribute.

What Is a Will?

A Will is a legal document that contains your wishes regarding the distribution of your property and the care of any minor children after your demise. There are certain formalities that must be followed to ensure that the Will is valid and enforceable and ultimately that your wishes are carried out.

What can I do in a will?

Most people use a will to leave instructions about what should happen to their property after they die. However, you can also use a will to:

  • Name an executor;
  • Name guardians for children and their property;
  • Decide how debts and taxes will be paid;
  • Provide for pets;
  • Serve as a backup to a living trust.

Why Do I Need to Create a Will?

Creating a Will gives you;

  • Sole discretion over the distribution of your assets;
  • The power to decide how your belongings, such as cars or family heirlooms, should be distributed;
  • The power to direct the distribution of your financial investments;
  • The ability to provide for the care of minor children;
  • The opportunity to minimize tensions among survivors;
  • Avoid relatives battling over your possessions
  • The power to direct your assets to the charity of your choice.
  • To leave your assets to an institution or an organization, a Will can see that your wishes are carried out.

How Do I Get a Will?

When you are ready to prepare a will, compile a list of your assets and debts. Be sure to include the contents of safe deposit boxes, items of sentimental value, family heirlooms and other assets that you wish to transfer to a particular person or entity. If your estate is substantial (ranging in the millions of dollars) or your situation is legally complex, you may wish to enlist the services of an attorney at law.

While you can create a Will for yourself, there are certain formalities set out by the law.

Under section 42 of the Wills and Probate Act Chap. 9:03 of the Laws of the Republic of Trinidad and Tobago, a Will must be made in writing, signed at the end of the document by the person making the Will, A testator must be 21 years or over. The Will must be witnessed by two persons who will also sign at the foot of the Will and in the presence of each other at the same time and in the presence of the testator. Each person signing the Will must have the mental capacity’ to sign the Will. An intended beneficiary must not be used as a witness to attest to the Will.

Can I Change My Will after it is created?

Changing your will is easy:

  • Simply write a new will to replace the old one or;
  • Make an addition using an amendment known as a codicil.

Who should I name as my executor?

You can name your spouse, mature offspring, or another trusted friend or relative as your executor. If your affairs are complicated, it may be prudent to name an attorney at law or someone with legal and financial expertise. You can also name joint executors, such as your spouse or partner and your attorney.

One of the most important things your Will can do is empower your executor to pay your bills and deal with debt collectors. Make sure the wording of your will allows for this, and also gives your executor leeway to take care of any related issues that aren’t specifically outlined in your will.

Where should I keep my will?

  • The Probate Registry at the Probate Court- usually requires your original Will before it can process your estate, so it is important to keep the document safe yet accessible.
  • A bank safe deposit box that only you can get into, your family might need to seek a court order to gain access. A waterproof and fireproof safe in your house is a good alternative.
  • Your attorney at law or someone you trust should keep signed copies in case the original is destroyed. Signed copies can be used to establish your intentions. However, the absence of an original will can complicate matters, and without it there is s no guarantee that your estate will be settled as you’d hoped.

How often does a will need to be updated?

You can update your Will as often as you wish. The only version of your will that matters is the most current valid one in existence at the time of your death. A rule of thumb: Review your will every two or three years to be safe.

How can a Will be revoked?

A Will can be revoked by a valid marriage as well as the signing and witnessing of a new Will.

 What happens after death?

The Will is probated. Probate is a process whereby the validity of a Will is determined.

What happens when the deceased left no will behind (Letters of Administration)

If you do not have a Will, you die intestate. In such a case, the State will oversee the distribution of your assets.

Attention to all farmers: Unless you want the Estate Owner to dictate your affairs and distribute your crops after your death, get your farm in order.

last updated 25th September 2019

About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.

Check out my Online Companies: www.asydneygroup.com

Call/Whatsapp for a quotation 868 373-1166

Blog: https://sydneygroupblog.wordpress.com/

Linked In: https://tt.linkedin.com/in/antoinette-sydney-77093550

Instagram: @asydneygrouptt

Facebook: https://www.facebook.com/sydneygrouptt/

Youtube: https://www.youtube.com/channel/UC8-sUa8WMDJM8w5_Q3nhQ5w

I am a Certified Professional in the following areas:

Taxation;

Corporate Training;

Anti-Money Laundering and Financial Crimes;

Fraud Risk Management;

Graphic Design.

Services include:

Anti-Money Laundering (AML) Training for staff, directors;

Anti-Money Laundering Audits;

Compliance Program drafting;

Consulting services and much more.

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Disclaimer

The content herein is provided for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney at law to obtain advice with respect to any particular issue or problem.

#will #probate #antoinettesydney #sydneygroup