Yes. It is very common in separation agreements or court orders to separate property that RRSPs are also subject to a division, or effectively redistribution, between former spouses. Canada Revenue Agency (CRA) imposes certain technical requirements on you and your spouse before it will allow such a division. The first hurdle: you and your spouse must be living separate and … [Read more...] about Can my wife and I divide our RRSP money without feeling the tax consequences now?
Division of Property
The Role of Lawyers in Family Mediation
When families meet with me and wish to use Mediation to resolve their issues relating to their separation and divorce, they often ask whether they need to have a lawyer as well, or if I can finalise everything (being that I am a lawyer and a mediator). Often clients want to use mediation instead of lawyers. I remind them that my role as mediator is to help them to (1) negotiate and (2) … [Read more...] about The Role of Lawyers in Family Mediation
Does my Canada Child Tax Benefit change when I separate from my spouse?
When you separate from your spouse (common-law or married), your entitlement to government benefits may change significantly. Remember, the amount of your CCTB and your GST credit payments is dependent on your family net income based on the information Canada Revenue Agency has from your income tax returns. Once you have been separated for 90 days, you become entitled to have your CCTB … [Read more...] about Does my Canada Child Tax Benefit change when I separate from my spouse?
Regarding division of property, what rights do unmarried partners have upon break-up? Does it matter if I’m on the Saskatchewan or the Alberta side?
It definitely matters which side of the border you are on. In Saskatchewan, the law is friendly towards unmarried partners. Once you have been living together as spouses for two years, you automatically become “spouses” under the Family Property Act. This means that you have all the advantages (and disadvantages) of dividing property that you acquired together from when you became … [Read more...] about Regarding division of property, what rights do unmarried partners have upon break-up? Does it matter if I’m on the Saskatchewan or the Alberta side?
I want to leave my spouse, but I don’t know what I need to consider first. Please help!
You are in the right frame of mind. If you are thinking of leaving, and aren’t sure of your next steps, it doesn’t hurt to do some research. I highly recommend that your first stop be to seek the advice of a divorce professional. This may seem self-promoting, but there’s a reason for it. In my practice, I provide initial consultations with no obligation to retain my … [Read more...] about I want to leave my spouse, but I don’t know what I need to consider first. Please help!