On Behalf of Porter Ramsay LLP | Jul, 11, 2022 | Real Estate Law
As a land developer in British Columbia, you probably already know that you can take no steps forward with your project before you have a plan. In fact, since there are numerous aspects of land development, you will likely create multiple plans. Of course, before beginning the planning of your project, you must first consider the many laws and regulations that govern the process of development. Land development is not as easy as purchasing property and constructing buildings on it. There are zoning laws, land use regulations and environmental impacts to consider. You might also face resistance from members of... View Article
On Behalf of Porter Ramsay LLP | Jul, 08, 2022 | Real Estate Law
Many regulators and officials have been proposing different means of cooling the housing market in British Columbia. Recently, the B.C. Financial Services Authority shared its recommendations for tempering the market for consumers. Their recommendations included measures to implement a required pre-offer period as well as a cooling-off period following an accepted offer. Here are the details of these two suggestions. Recommendation #1: Pre-offer period The pre-offer period recommended by the Financial Services Authority is five days. If the recommendation were adopted, it would require listings to be on the market for at least five days prior to an offer being... View Article
On Behalf of Porter Ramsay LLP | Jul, 01, 2022 | Family Law
Most people expect divorce to have an impact on their financial situation. However, it is interesting to note that the impact is not always all negative. While divorce can be expensive, most divorcees also note that their financial management improved post-breakup. This was one of the many things revealed in Toronto-Dominion Bank’s “Love & Money” survey, which aimed to understand how people were approaching financial matters and relationships in British Columbia and throughout Canada. Here are some of the highlights from the survey: 54% of divorced respondents said it was easier to manage finances after a divorce, compared to while... View Article
On Behalf of Porter Ramsay LLP | Jun, 15, 2022 | Family Law
The British Columbia Court of Appeal recently heard a case regarding a claim that spousal support was miscalculated in prior rulings. The appeal claimed that the calculation had been based on shared parenting when in fact one parent was given primary custody. The payor parent asked for the calculation to be reconsidered given the circumstances. Despite initial rejection of his application, he was successful in doing so. The original calculation was put in place by a judge in Jan. 2021. During this matter, the wife was given spousal support of $1,750. The wife was also given primary parenting. The husband... View Article
On Behalf of Porter Ramsay LLP | May, 20, 2022 | Wills And Estates
While most people think about retirement planning when it comes to the overall financial planning process, planning for what happens past that point is sometimes forgotten or put off. However, taking some time to put together a robust estate plan can save next of kin time and stress, but also sometimes money in the form of taxes. Here are some of the key moves British Columbia estate planners can make to reduce the tax burden on beneficiaries: Prepare powers of attorney: Most people have two powers of attorney, one for health and one for finances. Naming these individuals and communicating... View Article
On Behalf of Porter Ramsay LLP | May, 12, 2022 | Personal Injury Law
When a pedestrian or cyclist is harmed on the road, the impact can be devastating. Not only can these individuals suffer serious injuries or even fatalities, but up until recently, British Columbia pedestrians and cyclists could face significant financial costs. Under the policy, individuals considered responsible, even partially, would be charged for damages in a motor vehicle accident, even if they themselves were not behind the wheel at the time. Why did the ICBC change its mind? The ICBC says it has revoked the policy in response to concerns raised by cyclists and consumer advocates. The policy has received recent... View Article
On Behalf of Porter Ramsay LLP | May, 02, 2022 | Family Law
One of the most challenging aspects of post-divorce life is finding financial security on a single income. For this reason, it may be appropriate for a spouse facing divorce to seek spousal support. In British Columbia, some former partners even qualify for spousal support if they were not married. However, they have a limited amount of time to apply for this benefit after a separation. Seeking support you deserve According to the Family Law Act, partners who were married or who lived together in a marriage-like relationship for two years or more may seek spousal support. However, it is important... View Article
On Behalf of Porter Ramsay LLP | Apr, 18, 2022 | Family Law
Ideally, parents who go through a breakup will place the well-being of their children above every other concern. For this reason, they are more likely to set aside their differences and work together to create a parenting plan that is in the best interests of the children while still fitting within their unique circumstances. This can be a challenge, but the alternative is working with court-appointed counsellors or leaving those important decisions to the British Columbia family court. Since parents are not always eager to relinquish such delicate and personal decisions, many opt to create their own parenting plans. Where... View Article
On Behalf of Porter Ramsay LLP | Apr, 11, 2022 | Real Estate Law
When Canada’s federal budget was announced in early April, it included several measures aimed at cooling the housing market. These moves are a response to increasing concerns about the affordability of housing across the country. If the measures are passed, they will have a significant impact on real estate transactions in British Columbia. One of the changes garnering a great deal of attention is a measure to ensure house flipping profits are taxed as business income. Many individuals across Canada invest in residential real estate in order to make improvements and sell at a profit. This change, if passed, would... View Article
On Behalf of Porter Ramsay LLP | Apr, 01, 2022 | Personal Injury Law
Distracted driving is among the leading causes of serious car accidents in British Columbia. Increased use of mobile devices is making this issue into a more serious one. New polling data released by ICBC shows the extent of distracted driving in B.C., as well as some information on the awareness drivers have about this issue. Here are some of the main insights from the ICBC data: Occasional distracted driving is not uncommon: 42% of drivers polled say they use their phone once every 10 trips or more despite most of them knowing the risks. However, drivers are aware of the... View Article
