Common-law relationships are similar to marriages in some respects. In the province of British Columbia, for example, couples who have lived together for at least two years or who have a child together are typically considered to be in common-law relationships.Understanding the effects of this status on your financial situation and assets will help you to make the most practical and positive choices for yourself and your future. Here are some of the most important points to consider when deciding whether to establish a common-law relationship in Canada. Provincial Laws Can Differ The rules regarding what constitutes a common-law relationship

Although it can result in increased happiness over the long-term for all parties involved, there’s no question that divorce is often a difficult and unpleasant process to undergo. Divorce mediation is an alternative dispute resolution mechanism that allows the couple to develop their own voluntary and mutually accepted agreements. What is the Purpose of Divorce Mediation? Divorce mediation allows a couple to meet with a neutral, third-party professional who is experienced in helping couples resolve common issues related to divorce proceedings. Mediation is typically much faster and less expensive than a divorce trial, which can be helpful for getting a

Part 1 introduced the transparency register as a mechanism to track “significant individuals” of private B.C. companies. This part covers two more categories of significant individuals and describes the reporting and enforcement process surrounding transparency registers. Recognizing Significant Individuals (continued from Part 1) The previous article considered individuals significant to a B.C. company through share ownership. Significant individuals are also identifiable through their rights and abilities or by acting in concert with other individuals. 1. By right or ability to elect, appoint, or remove a majority of the directors Directors are appointed by shareholders. However, any individual – shareholder or

By May 1, 2020, all private B.C. companies must have a “transparency register” of beneficial owners created and ready for law enforcement officials to inspect. This transparency register tracks personal information on “significant individuals”. If you are a director or officer of a private company, you are responsible for bringing the company into compliance. There is good reason to comply, as transparency registers provide a corporate ‘Blockwatch’-like community effort to prevent illegal laundering of money through legitimate corporate and other business entities. Yet, there may also be reason to withhold information that is not related to anti-money laundering activities or