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As Ontario cottage owners start thinking about passing down the family retreat, adding adult children to the title might seem like a simple, tax-saving move. But this common strategy can have major unintended consequences—from loss of control to tax traps and family conflict. Before you make a move, make sure you understand the risks.
Child support is intended to ensure a fair standard of support for children after their parents separate. In many circumstances, determining the amount of child support payable is a fairly simple calculation based upon the parties’ income and parenting time.