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Spouse may opt for equalization payment under the Family Law Act, if it results in a greater share Yukon: $75,000 1/2 to spouse, 1/2 to child 1/3 to spouse, 2/3 to children Common-law spouses may apply to the court for a share of the estate "Child" does not include a stepchild Northwest Territories [9] $50,000 1/2 to spouse, 1/2 to child
In Canada, family law is primarily statute-based. The federal government has exclusive jurisdiction over marriage and divorce under section 91(26) of the Constitution Act, 1867 . The main piece of federal legislation governing the issues arising upon married spouses’ separation and the requirements for divorce is the Divorce Act .
A Henson trust (sometimes called an absolute discretionary trust), in Canadian law, is a type of trust designed to benefit disabled persons. Specifically, it protects the assets (typically an inheritance ) of the disabled person, as well as the right to collect government benefits and entitlements.
An inheritance trust – also known as a family or testamentary trust – is a legal arrangement designed to manage and protect assets for the benefit of heirs or beneficiaries after the grantor ...
To decide if a living trust is the best option for you and your family, consult with an estate planning specialist who can help you carefully weigh your estate planning alternatives.
The Family Law Act (the Act) is a statute passed by the Legislature of Ontario in 1986, [1] regulating the rights of spouses and dependants in regard to property, support, inheritance, prenuptial agreements, separation agreements, and other matters of family law. [2]
Family trusts are meant to live beyond the grantor's life. A family trust has an extended lifespan that enables it to distribute assets based on designated milestones (ie., marriage, having children).
In Australia, a family trust refers to a type of discretionary trust, set up to manage the assets of a family or its business. Family trusts are vehicles for the protection of family assets or the employ of a tax minimisation strategy. [2] Commonly used to arrange family affairs, family trusts place an obligation on a trusteed to hold and ...
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