Family Law March 2013
Posted by Michael Brown
on Mar 20, 2013
Common law couples were treated no differently than room-mates, which was “what’s mine is mine and what’s yours is yours”.
Our speaker today Doug Simpson talked about the new family law thatcame into effect this month. The talk was very informative and led to lots of questions from the floor. In the past there was no right to the other person’s assets based on living together as partners even where couples lived together for many years and had children together. Under the new law, common law couples will be treated the same as married couples for the purposes of their rights to each other’s assets. Only assets acquired during the relationship or cohabitation will be dividable upon separation. If you had an asset before the marriage or cohabitation, that asset will remain yours, except to the extent of any increase in value of that asset during the marriage or cohabitation. Sound complicated; it is, thats why you should talk to Doug Simpson from Campbell Burton & McMullan before you setup shop living together. Thanks Doug for the information, maybe you can come back soon to finish off the talk. I'm sure there is a lot more to know.