New Family Law Act Deals With Property, Debt
Thursday, March 21, 2013 @ 5:11 AM
Prince George, B.C. – B.C.’s new Family Law Act is now in effect and it addresses common-law families, as well as married couples, with clear direction on the division of property and how to resolve disputes.
The new family law protects the best interests of the child when families experience separation and divorce and can help couples resolve their family disputes without having to go to court.
Regarding property division, the general rule is that couples will share equally the family property and debt that accrues during the course of their relationship. Family property is all property that either spouse owns at separation, regardless of whose name it is in, unless that property is excluded. Excluded property includes things like property brought into the relationship and inheritances, which generally will not be shared upon separation.
For excluded property, only the growth of value during the relationship is sharable. If couples do not want the property division rules to apply to them, they can opt-out by preparing a written agreement and divide their property and debt as they see fit.
Regarding debt, the Justice Ministry says debt accrued during a relationship would be split evenly. Debt brought into a relationship would not be split between couples if they split up as it is not considered family debt.
Comments
So if some psychopathic women asks you to move in with her to help pay the rent, I would think twice. Especially if she has a “cook book” and speaks about gangsters like they are her best friends, just my for real advice to lonely single men in Prince George. Just remember this is the most dangerous city in Canada, that includes their women.
personal experience?
That is very sound advice – just this week I have had three psychopathic women with gangster ties ask me to move in with them. I thought maybe it was me new haircut. lol
Given the fact that there are so many people involved in common-law relationships these days, a new/revised Family Law Act was needed. However, wouldn’t it make sense to lengthen the required time to be in such a relationship from 2 years to 4 or 5 years?
Why?
People make the deliberate choice to not go through the legal and religious process.
Why should that right to choose be usurped?
In my case, I have spent a great deal of effort to remain financially solvent, yet my common-law spouse is on her second bankruptcy.
According to this, I am now liable for the debts she incurred and she is entitled to the gains I have worked hard for.
Mind, this would not kick in until we desolve our relationship.
“Why?”
Imagine this scenario – Couple lives together for ten years. She wants to get married. Deadbeat refuses because he doesnt want to be responsible. She hangs on thinking he will come around. After ten years he kicks her to the curb. Is it fair for her to leave with nothing after giving up a substantial portion of her life to someone?
Just an idea
There needs to be a realistic interpretation of the law for it to work.
You must take care of yourself, by that I mean if you are going common law make sure you understand the new law and how it pertains to you and your partner.
Have a mutual understanding of how the law will impact you both and if need be get it in writing.
As the old saying goes… Cover your Ass.
Sad change in the world we now go into relationships worried about exit strategies.
Yeah..it is.. but a lot better than staying in abusive, loveless relationships and suffering for your entire life like they did in the “good old days”
Life is to short to be miserable.
“She” wants to get married, “he” does not, so “he” is a dead beat?
She can only build assets by hitches to a wallet, er another income earner?
Her only value is as a housemaid with benefits?
The only way a “she” can prosper or gain financial security is by getting married?
Her career is a secondary consideration?
If the relationship desolves, then “he” must continue to pay?
Loki – He is a deadbeat if his reason not to be married is because he is afraid he will have to pay…
I remind you of your own words –
“In my case, I have spent a great deal of effort to remain financially solvent, yet my common-law spouse is on her second bankruptcy.
According to this, I am now liable for the debts she incurred and she is entitled to the gains I have worked hard for.”
;)
Another law by big brother government because we’re to stupid to look after ourselves.
Yeah, it’s too bad that more people can’t work things out outside of court.
It’s pretty common sense to figure things out, but as I’ve come to learn, common sense is not all that common.
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