When Can My Children Decide Where They Live?
If your goal is to avoid court and come to a quick resolution about the division of the matrimonial property between you and your spouse, then it is important to know that you and your spouse must exchange a list of all your assets and debts, as well as any supporting documentation that either one of you would like to see. Under the Matrimonial Property Act (“MPA”) of Alberta you and your spouse can divide your property in any manner you agree, provided that: You understand the agreement that you have reached; and You follow the formal requirement of the MPA. Understanding the agreement means being aware of your entitlements and responsibilities under the law, as well as knowing the rough arithmetic of net assets you and your spouse will each receive. Understanding the arithmetic is a two-step process, though frequently the steps are done at the same time. First you identify the assets and debts, and secondly, you need to value the assets and debts. In the Collaborative Family Law Process, the spouses and lawyers work together to build a common understanding of what assets and debts exist and then share the documentation in a formalized and organized way. ...