It's been one year since the new Family Property Act became effective in Alberta - so what?

On January 1, 2020, Alberta overhauled the law dealing with dividing property on separation for adult interdependent partners, or common-law couples. While some things are still being sorted out, unmarried couples in separation are now subject to a legislated scheme dividing their property that is very similar to that governing married couples. Couples are still free to make their own agreement, provided that they have independent legal advice. However, the key date to remember is whether your separation occurred before or after January 1, 2020; this date can have an impact on your rights and obligations. Before entering into any separation agreement, ensure you have received thorough legal advice.