Family Law: Divorce and Division of Assets

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Family Law Divorce and Division of Assets

• Amir Bashir
• Golnar Golpayegani
• Diana Kasovski

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Family Law

• Divorce Act 1968
• Divorce Act 1985

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Objectives

• To Lay Out Guiding Principles for Who Can Apply
  for a Divorce and What Are Acceptable Reasons for
  Divorce
• To Lay Out the Guidelines for the Following in
  the Event of a Divorce
• Child Support
• Spousal Support
• Custody and Access Orders

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Eligibility for Divorce

• Who Can Apply for a Divorce in Canada?
• Legally Married Couples
• Intend to Live Separate Permanently
• Live in Canada for at least One Year
• Acceptable Reasons for Divorce
• Living Separately for One Year
• Adultery
• Physical and/or Mental Abuse

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Division of Assets

• How is Property Divided?
• 5 Steps
• Equalization Payment

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Who Benefits Most/Least from this Division?

• Advantage- Person with Fewer Assets
• Ex. Maria
• Disadvantage- Person with More Assets
• Ex. George

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Criticism

• Divorce may not be Economically Efficient

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Recommendation

• Longer Waiting Periods
• Cost-Benefit Analysis

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Counter-Argument

• Divorce can be efficient

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Recommendation

• Reduce or Remove Divorce Penalty
• Implement Social Services for Children

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Conclusion

• Consequences for Children of Divorce