In a recent blog post we discussed the importance of prenuptial agreements for the small business owner, and mentioned the particular significance for those whose businesses derive their worth from their book of business, or the “goodwill” aspect of the business. We often see these types of businesses for those in the associated medical and… Continue reading Business Valuations and Income Determinations in the Professional Practice
Category: Child Support
Delay in Giving Notice for Reducing Child Support
In a recent case released by the Alberta Court of Queen’s Bench, the Court considered the question of how far back in time a payor may go in attempting to recalculate child support for overpayment. In Hrynkow v. Gosse, 2017 ABQB 675, in 2014 the father had agreed to child support payments on the basis… Continue reading Delay in Giving Notice for Reducing Child Support
Shared Custody and Claiming an Amount for an Eligible Dependent
In a parenting arrangement where one party has the children in their care and control more than 60% of the time, they are considered to be the primary parent. In such a scenario, it is the usual circumstance that the other parent must pay Child Support to the primary parent. Under the Income Tax Act… Continue reading Shared Custody and Claiming an Amount for an Eligible Dependent
Tools to Reduce Conflict – Our Family Wizard
Sometimes conflict can’t be avoided. However, in respect of conflict around parenting schedules, decisions, and communication, sometimes conflict can be reduced with the help of third party tools. It has become a frequent comment of the Courts that they have become overburdened with an excess of family law applications; particularly applications over matters that the… Continue reading Tools to Reduce Conflict – Our Family Wizard
Disclosure Obligations in Family Law
A cornerstone of family law cases is the requirement for full exchange of financial information between the parties. Each party must disclose all information about their financial position, including all debts, assets, company information, accounts held with third parties, and so on. Parties will not be able to work out a meaningful settlement of all… Continue reading Disclosure Obligations in Family Law
Divorce and Your Taxes
When you separate or obtain a divorce, each party must file taxes separately from each other. You are considered separated by the CRA when you have lived separate and apart from your spouse or common law partner for more than 90 days due to the breakdown of a relationship. The CRA definition of “separation” is… Continue reading Divorce and Your Taxes