Kelowna General Practice Blog

When it's over, it's over -- well, not entirely for some couples. British Columbia couples who have separated and have decided to divorce have things under family law to figure out -- things like the division of property. But for some couples, living apart is not an option right away. Maybe people need to stay under one roof for financial reasons or perhaps they've made the decision to stay in the same home for the sake of the children.

Separation and divorce can be emotionally taxing, but living with a spouse during a separation can make things doubly difficult. With the right information on how to handle this limbo phase, living together while apart, can be doable. Even if soon-to-be former spouses are living in the same home, they should draw up a co-parenting plan that helps children get used to a scheduled time with each parent.

Fashioning an estate plan needs a lot of consideration. British Columbia residents who are thinking about their wills and estates have to decide to whom they're going to leave their assets and how that's going to look not only on paper, but in reality. Baby boomers are aging and it is estimated that in the next three decades about $16 trillion globally will pass from one generation to another. But strained economic times are leading people to share their worth with grown children and grandchildren while they're still living -- a trend that has come to be known as a living inheritance. 

One of Canada's major banks estimates that more than 60% of baby boomers will gift money before they pass away. Those Canadians planning on doing this need to know how much to give and when they should give it. Some people like to give their children and grandchildren money while they're still around to see them enjoy it, but for that money not to be squandered, experts say small amounts should be given at first to see what happens.

Stricter rules are set to come into effect regarding the west coast speculation and vacancy tax. British Columbia is expected to raise the tax from 0.5% to 2% before the new year. The tax affects foreign owners of real estate, satellite families -- those who don't report the bulk of their income on Canadian tax returns. The provincial finance minister said the provincial tax was introduced on Dec. 31, 2018, to offset what was then considered to be a real estate crisis in British Columbia. 

Statistics show the tax has been working as it was intended to work -- taxing those who own vacant homes, foreign owners of real estate and speculators. Active Canadian armed forces members and their spouses who own property will be exempt from the tax in its next phase as will those who own properties only accessible by water. Foreigners who own vacant land will also be exempt from the tax in 2020.  

An individual who is hurt due to the carelessness of another has options when it comes to possible compensation. It is good, however, for British Columbia residents to understand the differences between a personal injury claim and a personal injury lawsuit. The law in Canada says an individual can claim monetary compensation for a personal injury in two ways: file a claim to negotiate a settlement or file a lawsuit. Family members also have the option of seeking compensation if a loved one dies as a result of an injury that was not his or her fault.

The obvious difference between a claim and a lawsuit is that with a lawsuit, the presumed at-fault party is being sued through the person's insurance company for compensation, while a claim is filed with the insurance company to negotiate a settlement. In this case, the at-fault person is not directly involved and is represented by the insurance company. Also, anyone injured in an incident through no fault of his or her own will always be involved in a personal injury claim, but that won't always lead to a lawsuit.