Question
2. Next assume the following fact situation: a-Your client is Lindsay Lohan, 35, residing in Toronto, Ontario. Her bank accounts indicate $200,000.00 saved. She also
2. Next assume the following fact situation: a-Your client is Lindsay Lohan, 35, residing in Toronto, Ontario. Her bank accounts indicate $200,000.00 saved. She also tells you she is about $300,000 in debt.
b-She tells you she owns a gym and dance studio that makes approximately $5,000 in gross income per month for her. Her expenses vary and include rent, She employees no one.
c-She works 12 hours a day and this can consist of private or group fitness training, aerobics and dance classes.
d-Ms. Lohan was on vacation in Rio De Janeiro where she met and fell in love with Maria Santa Maria El Diablo a tour guide, translator and professional tango dancer. Ms. Diablo claimed to be 21 when she met Ms. Lohan.
e. Ms. El Diablo was successfully sponsored by Ms. Lohan and came to Canada and began living with Ms. Lohan on July 1, 2020 on her 19th birthday. She then married her on June 1, 2020.
f. They resided in Ms. Lohans condominium at 777 Trouble In Paradise Lane, Suite 777, Toronto, Ontario.
g. Ms.El Diablo no property when she arrived in Canada and a networth of $10,000.00. She immediately began to work with Ms. Lohan and began teaching tango classes and says as a result since she has worked there membership and revenue has increased and Ms. El Diablo has never been paid.
h. Ms. Diablo says she gives any money she made in the business from her classes to Ms. Lohan who is in charge of all finances including running the business, paying the rent on the condo, paying every day living expenses.
i. Ms. Diablo has recently received a modelling offer worth $500,000 starting Jan.1,2023.
j. Ms. Lohan is now worried and concerned whether she should write up some kind of domestic agreement and what the potential business issues are and what would happen if they had a divorce.
h.Ms. Lohan is nervous because she suspects the person Ms. El Diablo was hired by, Tyra Banks may be trying or is having an affair with Ms. El Diablo who insists its strictly business. Ms. Banks and Ms. Lohan previously dated the same person and do not trust one another. So outline the possible issues and what Ms. Lohan should consider to protect herself and her business in the event of a divorce (60 marks).
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