Overview
Maintaining a reminder system about the upcoming limitation periods in the Family Law Act is crucial for estate lawyers to avoid breaching the application limitation period to apply for equalization. This CPD will discuss best practices for maintaining a reminder system so that lawyers can avoid seeking an extension to elect under the Family Law Act, or at least seek an extension before the limitation period has already passed.
Topics include:
- An overview of the model of equalization of net family property provided under the Family Law Act in the testamentary context.
- Limitations and Motions to Extend Time.
- Elections, deemed elections, and whether the Court may allow a re-election.
- Impact on entitlement to assets passing outside the Estate by the electing spouse.
- Planning techniques.
Discussion Materials
Session Recording
In the Media
This article was published by Law360 Canada, part of Lexis Nexis Canada Inc. on September 13, 2024.