BADM*4070 DE Chapter Notes - Chapter 5: Collaborative Law, Sports Equipment, Tax Bracket
Document Summary
Family law states include: the federal divorce act, provincial family law act, the federal and provincial income tax acts. Separation agreement: is a contract between spouses in which they agree to live separate lives and set various conditions. The spouses have a great deal of freedom in determining the conditions. Divorces: divorces are granted by courts and are governed by the divorce act. The divorce act gives the court the power to end marriages but not any power over the division of family property. The division of family property is governed by the provinces but each province has its own family law acts (fla). Under nancial planning purposes, a family is de ne as a grouping of persons whose a airs are so closely related that they plan their personal nancial a airs together. A single person is family, as is a spousal couple, regardless of gender and marriage status.
