It is not uncommon these days for aging parents to share wealth with family members, in part due to the tax benefits available, the difficulty of young adults in entering the housing market, and a general shift in mindset towards finances and the transfer of wealth.
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Changes to the Divorce Act coming into force on March 1, 2021, and the corresponding new duties for parents.
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Along with the New Year come some significant changes to the laws directing how people in common-law partnerships (also known as Adult Interdependent partners in Alberta) divide their property upon the breakdown of their relationship.
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Relocation, or moving away after separation or divorce, is one of the most litigated family law issues. Recent changes to the Divorce Act set out changes to the way relocation issues will be addressed by the Court July 1, 2020.
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Separating parents continue to be responsible for meeting the financial needs of their children. In most cases this means that the primary caregiver to the children receives child support from the other parent. In the simplest of cases, this support consists of two parts: base child support and contribution to special expenses.
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