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Our family law firm will help guide you through the often complicated process of property division, making sure your rights are protected and working to get you a fair settlement.
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Property division in family law is about splitting up the assets and debts between two spouses or partners when they separate or divorce. This can include things like homes, cars, investments, pensions, and more. The goal is to make sure both parties get a fair and equal share of what they acquired during the relationship. Sometimes this means an equal split, other times it's unequal based on factors like income and contributions. The process can be complicated and emotional, so it's important to have a family law expert to help protect your rights and interests.
While you don't have to have a lawyer for property division in family law, it's usually a good idea. The process can be complex and emotional, and it's important to make sure your rights are protected. A family law expert can:
Having a lawyer can help give you peace of mind and make sure the division is fair and legal. It can be expensive, but it's a good investment in your future.
In BC, property division in family law cases is ruled by the Family Law Act. Some types of property aren't included in the division:
It's important to remember that these exclusions may vary based on each case. A family law expert can help you figure out what property is included or excluded in your situation.
In BC, property division in family law cases isn't always a 50/50 split. The court looks at various factors to decide what's fair and what each person should get.
Some of these factors include:
The court will use these factors to decide what's a fair split, which might not always be equal. An expert in family law can help you figure out what might happen in your situation.
The court may order that the family home be sold and the proceeds divided between the spouses or common-law partners. Alternatively, the court may order that one spouse or common-law partner be awarded the family home and compensate the other spouse or common-law partner with other assets.
You need a competent team of experienced lawyers to make sure you're not giving up more than you should. Reach out today.
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