The desire to help our kids is lifelong. However, lending or giving money to your adult children can cause problems. Especially if it is not clear whether the money is a gift or a loan Many adult children need help with their down payment for a home. This makes a…
Divorce statistics help us understand how marriages-and divorces- have changed over time. What exactly is the divorce rate in Canada, and what does that mean? Here are some simple facts to understand Canadian divorce statistics: How Many Marriages End in Divorce? The answer to this question depends on the timelines…
What qualifies as a support payment, and how it is taxed, are important issues. How support payments are defined affects your income (as defined by CRA), the amount of tax deductions you are allowed, and ultimately how much income tax you pay. Each person’s case is unique, and you should…
Excluded property in BC can be tricky. Generally, excluded property is property owned by one spouse prior to the relationship. Most times, this involves a house that one person bought before they married, or began living together. However, the term “excluded property” also applies to valuable art, inheritance, or other…