Separation agreements are legal contracts created by two spouses, after separation. Separation agreements set out each spouse’s rights and obligations on issues such as parenting, finances, property, and support. Both married spouses and common-law spouses can enter into a separation agreement. Separation Agreements are Faster and More Economical Than Going to Court Traditional court litigation can be time-consuming and expensive. It can take years to reach a resolution in court. With litigation, the courts decide when and how a matter moves forward. Even at the best of times, many courts have a large backlog. Since the beginning of the COVID-19 pandemic, the courts have an even larger backlog. The court process is also expensive, and the costs are unpredictable. When negotiating a separation agreement outside of court, parties get to decide the pace and are in more control of the costs. Issues to Address in a Separation Agreement Separating spouses … Read More
COVID-19 – Why You Should Update Your Will
During the COVID-19 crisis, individuals should take the time to review their affairs to ensure that their Wills accurately represent their current personal circumstances and wishes. When a marriage or common law relationship breaks down, parties often assume that this breakdown automatically results in the nullification of any relevant clause in their Will, however, this is simply not the case. Married Couples Where a former spouse of a divorced couple dies, leaving part or all of their estate to their former spouse, the Succession Law Reform Act automatically comes into force upon divorce to sever clauses in relation to the former spouse; the Will shall operate as if the former spouse predeceased the testator, unless a contrary intention is shown. If the spouses have separated, but not divorced, the separation has no impact on the Will and any of the estate left to such an individual will be inherited. Unless … Read More