We are proud to announce that we will be holding a Food Drive from November 1st-27th in support of The Food Bank of Waterloo Region, and in the spirit of GivingTuesday. What is GivingTuesday? As stated on the GivingTuesday website: “It is a global movement for giving and volunteering, taking place each year after Black […]
What Are The Differences Between a Consumer Proposal and a Division 1 Proposal? Many people are surprised to discover that Insolvency Trustees are able to offer two different types of proposals through the Bankruptcy Insolvency Act. The first of these is the commonly-known Consumer Proposal, and the second is called a Division 1 Proposal. What are […]
On separation, parties often have to make hard decisions regarding how they will split assets, who will pay support, and how they will move on from the relationship. At this time, one of the most contentious and difficult items to deal with is the Matrimonial Home. Who gets to keep it? Will the kids remain […]
You’ve finally decided that you are ready to put together an estate plan (preparation of wills, trusts, and power of attorneys etc.) but are not sure about what the process will involve. Here’s a quick list of some items that you should be prepared for: Get specific about your assets There’s no estate plan without […]
Equalization is a payment from one spouse to the other at the end of a marriage. This equalization payment ONLY applies to married spouses, not to common law spouses. S. 5(1) of the Family Law Act (“FLA“) provides for Equalization when: A divorce is granted; Marriage is declared a nullity; When (married) spouses are separated and there is […]
One of the most significant concerns for parents, if not THE most significant concern, on separation is what will happen with the children. Where will the child live? Who is going to make decisions for the child regarding their education, religion, or medical care? How much time will each partner spend with the children? These […]
What is the Estate? When a person passes away, all assets that the individual leaves behind may be referred to as that person’s “estate”. Generally, this could include bank accounts, investments, cash, jewelry, cars, business interests and the like. Sometimes the deceased owns a fractional interest in the asset (such as a part of a […]
Spousal support is often a very contentious issue on separation as it has a much more subjective approach than child support. A lot more factors go into determining a spousal support amount and there is no hard and fast rule on how it is to be calculated. The government has provided a set of guidelines […]
Today’s post highlights some important items that an Estate Trustee must turn his or her attention to during the administration of an Estate. In a nutshell, an Estate Trustee’s role includes tasks such as gathering and managing assets, paying debts and expenses, locating the beneficiaries an distributing the estate to those entitled. However, from start […]
One of the major issues at separation is how much child or spousal support will be paid from one spouse to the other. This can often become very contentious between separating spouses as it can greatly impact both of their finances. The Family Law Act (“FLA”) recognizes that each parent has an obligation to provide […]