Figuring out who gets which assets in a divorce is rarely easy, but for some couples it can get even more complicated. This is certainly the case for couples who share a business. Alberta couples with a family business or businesses can add many complexities to the property division process. Many consider shutting down or selling the business to be the only resolution, while others seek alternative options.
There are many different types of families in Alberta, but unmarried or "common-law" couples seems to particularly be on the rise. Recently, Statistics Canada verified this trend. According to the General Social Survey (GSS), three-quarters of Canadian adults 25 to 64 cohabit with a partner but that a decreasing number of these couples are legally married. There are many family law implications in this trend, including managing divorce while one or both spouses are cohabiting with another partner and the rights of common law couples if a relationship dissolves.
When Alberta couples decide to end their marriages, there are often many issues to resolve. This can include custody, spousal support and asset distribution. For many families, divorce mediation is the most constructive and cost-effective option. But how does this really work in practice?
When a relationship gets serious a couple -- who are very often in a honeymoon phase -- might decide to take things to the next level. That may mean living together. There are family law rules in Alberta that can assist each individual in making decisions when it comes to protecting his or her assets within a serious relationship. After all, those assets may be handed down to a person's children one day.