Changes to the Family Law Act come into effect starting March 18, 2013. You may have a client who is affected by these changes.
The New Family Law will deliver drastic changes to how property is divided in BC for both married and unmarried couples.
The changes are outlined as follows:
Enacts major reforms to the common law and married persons property division regime upon relationship breakdown, that:
1. Extend it to common-law spouses who have lived together for two years in a marriage-like relationship.
2. Exclude certain types of property (e.g. pre-relationship property, gifts, and inheritances) from the pool of family property to be divided 50-50.
3. Limit judicial discretion to reapportion family property or to divide excluded property to circumstances where it would be clearly unfair not to do so.
4. Provide that debts are subject to equal division.
5. Set as defaults: the date of separation as the triggering event and the date of the court order or agreement as the valuation date.
6. Limit the ability of judges to set aside or change property division agreements.
7. Enable interim orders, including for the distribution of property for the purposes of funding litigation or dispute resolution.
8. Enact conflict of laws provisions to address property outside of British Columbia.
Source: (BC FAMILY LAW)
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