An interesting case out this month, where a husband’s failure to follow the Dower Act cost him $75,000 and his house. The Dower Act is a 100-year-old relic of a time when women had to be protected in case their husbands gave the family farm away in his will or sold the family home and […]
A recent decision of the Court of Appeal of Alberta has clarified the disclosure of financial information for owners of private corporations. Paragraph 8 of the standard Notice to Disclose form requires the following disclosure: 8. If you have a 1% or more interest in a privately held corporation: (a) […]
The new year brings changes to tax laws that will affect separating couples and their settlements. Here is a quick summary: 1. Canada Child Benefit. Maximum annual benefit of $6,400.00 per child under the age of six, and $5,400.00 per child ages 6 to 17. This benefit is tax free, and is calculated based on […]
Christmas is past us now, and the news on social media is full of articles about divorce. “World’s Most Expensive Divorce Settlements”, “Divorced women share why they’ll never marry again”, “Divorce Test – Should I Stay or Go”, and “Rate your Mate: The Divorce & Compatibility Test” are a few examples of what shows up […]
The importance of the exchange of proper financial information when determining a settlement for separating couples has been reinforced again by the Alberta Court of Appeal. In the case of Smith v. Smith, 2016 ABCA 376, the following principles were identified and emphasized: 1. “The foundation of family law rests on parties making full disclosure […]
