Finance & Banking

Read Family Law updates, news, and legal commentary from leading lawyers and law firms:

News & Analysis as of May 19, 2013

FBAR-The New Marriage Penalty

by Sanford Millar on 1/7/2013

For those U.S. taxpayers who are married to non-residents there is a new form of marriage penalty if the spouses filed joint returns. To be eligible to file joint returns an election must be made with the first joint return...more

No Divorce from Spouse #1? Common Law Spouse #2 Not Entitled to Pre-Retirement Death Benefits

by Osler, Hoskin & Harcourt LLP on 11/2/2012

In the recent case of Carrigan v. Carrigan Estate, the Ontario Court of Appeal has effectively re-written the law on pre-retirement death benefits under the Ontario Pension Benefits Act (the PBA)....more

Gaining Access to Funds for Living Expenses and Attorney’s Fees Might get Easier

by Law Offices of Marlo Van Oorschot, APLC on 10/29/2012

Access to funds – for living expenses and attorney’s fees – is often a challenge for a stay-at-home spouse or domestic partner during a dissolution. The working spouse or partner continues to have income and the ability to...more

CFPB Proposes Making it Easier for Stay-at-Home Spouses and Partners to Get Credit Cards

by Katten Muchin Rosenman LLP on 10/25/2012

On October 17, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed updates to existing regulations to make it easier for spouses or partners who do not work outside of the home to qualify for credit cards. The...more

Division of Pensions on Marriage Breakdown: New Rules

by Dentons on 8/3/2012

Significant changes came into effect on January 1, 2012, regarding the treatment of pension benefits of Ontario members who go through a breakdown of their spousal relationships. The new regime is a big improvement over the...more

Divorce Settlements With Foreign Assets; What Are The Risks?

by Sanford Millar on 7/2/2012

Many couples going through marital separations (divorce) have interests in foreign assets. Often these are dual nationals who have interests in family businesses in their country of origin, but regardless of the source of the...more

Couple Forced to Divorce For Financial Survival

by Daniel Clement on 9/16/2009

The Huffington Post reported on a sad and frightening phenomenon- elderly couples forced to divorce to obtain relief from medical bills and to qualify for social security benefits. The article details the plight of Mary...more