When going through a divorce, small family businesses present a significant risk and challenge. Many married couples also happen to be joint-owners of small businesses. Running a business with a spouse can prove particularly beneficial since both owners tend to trust one another more than they would other business partners. …
The Canadian Bar Association has published the “Tax Matters Toolkit: Separation & Divorce” to assist separating parties understand potential tax consequences of relationship breakdown. The Toolkit notes that separation decisions, especially regarding children, property, or pensions, have tax implications and may affect parties’ future finances. To assist in becoming informed …
Without proper planning, retirement funds could be compromised by late divorce Divorce is becoming increasingly prevalent among Canadian seniors and with the rise of such ‘grey divorces’ come unique financial considerations. While younger divorcing couples may have concerns about issues such as child support, older couples are more likely to …
If you have separated from your spouse you are entitled to financial disclosure documents in order to determine what support may be payable (either child support, spousal support or partner support) as well as what an appropriate division of matrimonial assets and debt would be. The Alberta Rules of Court …
When a couple decides to buy a home together, one consideration they will be faced with is how they should be reflected on title. The same dilemma can apply when one spouse owns an existing property and is considering whether to put the other spouse in title when he or …
More than ever, employment and economic forces are conspiring to force some Albertans to consider relocation. In those situations that involve relocation with children of a divorce or separation, this may culminate in a Court application. When one parent seeks a significant relocation with a child, and in so doing …
In 1996, the Federal Government introduced the Federal Child Support Guidelines (the “Guidelines”). The purpose of the Guidelines was to promote consistency and fairness in child support payments. The Guidelines provide for two classes of payment. First is “Section 3” child support, which is based on the payor’s income as …
For most people, a court order or judge’s decision marks some sort of conclusion in a legal conflict. For others, it can be the beginning of a new set of worries, this time related to the other party’s compliance with the order. Many Alberta individuals in the midst of a …
There are many things parents need to consider after separating from their significant other. Among the many considerations are changes to one’s tax status. The tax situation of a newly single parent can vary greatly depending who maintains child custody, who is paying child support and how child care expenses …
A determination of entitlement to child and/or spousal support logically leads to an analysis of the appropriate amount. With increasing demand, the general public is seeking immediately available and reliable resources for “child support calculators” and “spousal support calculators”. CHILD SUPPORT “CALCULATORS” The Federal Child Support Guideline tables make the calculation of …
