Effective January 1, 2020, the Matrimonial Property Act of Alberta will be changed to the Family Property Act of Alberta (The “New Act”). This New Act will apply to both married couples as well as unmarried couples such as adult interdependent partners (common law partners) when it comes down to the issue of property division. More specifically, it will apply to property acquired after beginning a relationship of interdependence. It gives each adult interdependent partner 2 years from the date they knew or should have known their adult interdependent relationship ended to make a claim for property division. It also clarifies that partners can enter into a property ownership and division agreement that applies both during cohabitation and the time after marriage. Any existing property division agreements that were enforceable under Alberta law when they were signed will still be enforceable. If you do not have an agreement at this point, please contact us for a Cohabitation Agreement to protect your asset.
Once Jae had finished his J.D. at the University of Saskatchewan, he knew right away to follow his entrepreneur path and to start “Shim Law” in 2014. Jae has been growing his practices ever since – specifically in the fields of Employment Law and Family Law.
Jae is also an active member in the Korean community and frequently volunteers his time to help others.