During separation negotiations, the value of your advanced or professional degree may come into question. If you attained the degree during the marriage, your spouse may argue that it is considered property, and therefore subject to an equal division of its value. It is important that you understand the worth of the degree and its
Independent Legal Advice: You have an inalienable legal right to seek to independent legal advice from a lawyer of your choice before you sign a prenup, marriage contract or separation agreement. If the person telling you that you don’t need a lawyer, don’t sign the document. Free will and the ability to understand the proceeding:
There is great confusion about common-law partnerships. They are a distinct domestic household union recognized by family law courts including the Supreme Court of Canada. Common-law partnerships are not a subset of being married, however they share some elements in common. There is no distinction between same-sex or opposite sex common-law partnerships. From the nationwide
When entrepreneurs and small business owners are transitioning their personal relationships such as cohabiting or separating is to learn about their right to secure their wealth and prepare for an orderly distribution if that relationship doesn’t succeed. Another time of transition requiring a good look at securing wealth is upon the transfer of an inheritance.
In Ontario if there is no domestic contract executed prior to or during the marriage, married spouses who face a breakdown in their relationship will divide the value of their respective family property according to the statutory scheme. An accounting by ownership and value of the property held by each spouse as at the date
In the family law field, clients are asked and expected to produce documents demonstrating their income from all sources, property of all sorts and debts and liabilities. The probable value and currency, accuracy and completeness of the disclosure is paramount. Why? For a family law lawyer to be able to provide comprehensive legal advice to
Whether clients are married or cohabiting, separation is an emotional and often stressful time. Once the terms of an agreement have been reached on how the negotiations will proceed -collaborative approach, mediation, or traditional negotiations – from there it’s a matter of gathering all the relevant documentation to prove ownership and value. What happens when
When a new client arrived for our initial consultation he seemed sullen and distracted. I asked what he was thinking about. He sighed and explained how he always believed that what was held by his company belonged to the company and what were used by the family were family assets. He had a group of
Parents who solely own a house or cottage think about changing the ownership of these assets to include their children. While there may be sentimental or economic reasons for doing so, care must be taken to understand the full consequences of such a decision. Loss of critical tax credits for both the parent and child
A business owner was discussing seeking legal advice with Sandra, his high school sweetheart, about the impact his flourishing import/export corporation may face once they married. Jacques and his business partner, Sam, started seven years ago what is today a successful international company. There are four divisions employing 38 people; each with a family of
One of my best friends, Jim, is facing what he sees a tough road ahead. It’s not that he and his wife are separating; it’s the unwelcome help he’s receiving from his gym mates. One soccer buddy boasts that Jim must lead the troops and show the rest of the guys what we’re made of.
For senior adults stepping into their second marriages, the tough conversation is often about the marriage contract. Not so long ago, this discussion would have been a nonstarter and certainly a deal breaker. Feeling personal betrayal during this honeymoon phase, a tough discussion about money seems to come from nowhere. The spouse being asked to