Received an Early Inheritance? Learn How to Protect it in a Divorce
Early inheritances are becoming more routine lately, and are coming up for discussion in families more often. Perhaps your aging parents have earmarked some Estate funds for you, and are thinking about putting them in your hands now, before their inevitable passing. That way, you can enjoy it sooner rather than later. This kind of unexpected windfall can provide you with a significant...
My Spouse Died After We Separated. What Happens to All Our Assets & Debts?
If you’re separated but not divorced, and your spouse suddenly dies, it can add an unexpected layer of complexity to the process of divorce, which is already an emotional and challenging situation. You may wonder how your spouse’s death will affect the division of your marital assets and liabilities, particularly if things weren’t fully settled before they passed away. Understanding how...
Canadian Family Law 101: Property Acquired After Separation – But Before Divorce
Most married couples will be familiar with a basic principle of Canadian Family Law: That any assets they acquired during the marriage are subject to an equalization process upon separation and divorce. In Ontario, that process is governed by the provincial Family Law Act, R.S.O. 1990, c. F.3 (FLA). But what about property that one of them acquired after their separation date? For example,...
“Exclusive Possession” of Your Matrimonial Home: What Does it Mean?
Many of you might know that under the Ontario Family Law Act (FLA), your matrimonial home has special status once you decide to separate from and divorce your spouse. At that point, your matrimonial home (defined as every property that “was at the time of separation ordinarily occupied by the person and his or her spouse as their family residence”) is subject to special rules governing how it...
How Does Adultery Affect Divorce Under Canadian Law?
Has your spouse been unfaithful? Are you considering a divorce? If so, you might be wondering how your spouse’s adultery affects your own legal rights. Here are some of the key points you should know. Adultery is one of the grounds for getting a divorce in Canada. Under the federal Divorce Act, you are only eligible to divorce if you can show there has been a “breakdown of the marriage”. That...
Lessons Learned: Consequences of ‘Bad Faith’ Actions in Divorce Proceedings
Divorce proceedings often bring out the worst in couples, with some resorting to deceitful tactics to avoid their financial obligations. A recent case in Ontario sheds light on the severe consequences of such “bad faith” actions, highlighting the importance of honesty and integrity in legal matters. The Case: A Tale of Fraudulent Transfers and Deception In this case, a husband...
What NOT to Do During a Divorce
Do NOT punish your Spouse The Divorce process can be very emotional. You may be very angry at your spouse. You may want to punish your spouse. Don’t make that mistake! If you make the divorce process more difficult, it will only increase your legal costs and increase your stress. It may make a resolution of the outstanding issues very difficult. Never threaten your spouse with violence. It can...
Why Business Owners Should Consider Entering into a Marriage Contract Before Marriage
Marriage is not only a union of hearts but also a union of assets, responsibilities, and commitments. This union can be particularly complex for business owners, as it can involve substantial financial interests and assets built over years of hard work. While no one enters into marriage thinking about divorce, it’s prudent for business owners to consider the potential benefits of a...
Protecting Your Finances in a High-Asset Divorce: Strategies and Considerations
Going through a divorce can be emotionally and financially challenging, especially when substantial assets are at stake. In this blog post, we will provide valuable advice to individuals who are navigating a high-asset divorce. From identifying and valuing assets to implementing effective strategies, we will guide you in protecting your financial interests during the divorce process. Remember,...