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 […]
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 […]
In Ontario, simply being separated from your spouse and not obtaining legal divorce may put your estate plan in jeopardy. Section 17(2) of the Succession Law Reform Act (“SLRA”) provides that for parties that have obtained legal divorce, any reference to a former spouse in an individual’s will is revoked and the will is construed […]