What changes should be made to family law?
These proposals let family law lawyers discuss and vote on what changes they think should be made to the law or court procedures. The results can be viewed and shared with legislators and the Courts. The proposals put forth are written by member lawyers, and do not necessarily reflect the views of this website or its administrators. You can view more proposals or make a proposal yourself.
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67% in favour out of 9 votes | |||||
 | Ken Proudman  Executiveview Arbitrator profile BARR LLP Edmonton, Alberta Subject to section 8 factors and exemptions, isn't the whole goal to leave each spouse with equal resources? We know that to pull money out of a house, you have to pay commission (likely 7% on the first $100,000 and 3% thereafter) as well as at least $1000 in legal and land titles fees. We know that if you elect to sell without a realtor, purchasers will generally be looking for a deal on the sale price. Each dollar in a bank account is simply worth more than each dollar in equity in a home. It's the same with taxable assets. Yet we often don't deduct taxes and sale costs unless there's an impending sale (except for taxes on RRSPs, which I don't understand the differential treatment other than that they're somewhat easier to calculate). 0 2 years agoSome have argued that the sale costs and taxes may never be materialized during their lifetime, but isn't that the same with taxes on RRSPs? Doesn't it mean that they're just leaving their beneficiaries less when compared to other assets? Most assets probably will be withdrawn during someone's lifetime anyways, whether it's downsizing to a retirement home, selling a business, or using funds on retirement. Shouldn't the law be based on probably scenarios? At the end of the day, these assets are just worth less, and fairness requires that subject to s8 and exemptions, each spouse should have equal actual resources. | ||||
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