Tag: matrimonial property

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Business Assets and Valuation

Under section 4.1 of Nova Scotia’s Matrimonial Property Act, business assets are excluded from the definition of Matrimonial Property. As such, they are not subject to the same presumption of equal division as a matrimonial home, or pensions.

“Business assets may be classified as matrimonial depending on the primary purpose of the asset, including whether the asset is generating income in a entrepreneurial sense, whether the asset is a capital asset acting passively, or whether the asset was acquired from funds diverted from the family.” (See Wolfson v. Wolfson [2021] N. S. J. No. 358)

Some decisions of the Nova Scotia Supreme Court render a portion of a business asset as matrimonial and subject to division,while leaving other portions as business assets exempt from division.

We recommend that persons with business assets get legal advise before getting married or divorced so that they are able to make informed decisions and informed choices about how they may want to structure their business and life.

Posted by Philip Whitehead

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Division of Overseas property in a Canadian Divorce

Canada is lucky enough to be the chosen home of many immigrants.  Some retain and or purchase property in their original country during marriage.  When those people divorce in Canada, dealing with their Foreign Property (including Real Estate) poses additional challenges.

In Nova Scotia there is a distinction made by the Court between Movable and Immovable Property in a foreign jurisdiction.   That distinction impacts on the law applied to the division.

The first step in dealing with Immovable Property (Real Estate) in a foreign jurisdiction, is often proving or agreeing on a valuation.

If you or someone you know needs advice or representation for these issues, we would be happy to help.  Give us me call at 902-404-3622 or email Philip Whitehead at philip@whiteheadlawyers.com

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Changes to Child Support and Common Law Property Rights

There are recent changes to the legislation governing the obligations people living in common law.  Notably, new obligations for child support and parental rights in relation to children that you have been parenting, but who aren`t your children.

Additionally, the Government of Nova Scotia is in the process of amending the laws related to property division between common law spouses.

Speaking to a lawyer can help you to understand and make conscious decisions about your role and obligations to your partner`s children.

While care has been taken to ensure the information contained herein is accurate, the information provided is based upon the laws of Nova Scotia and is supplied for general interest purposes only.  It is not intended, nor should be considered to be specific legal advice or opinion