At Kohler Family Law, we understand that asset and debt division is one of the most crucial and sensitive aspects during a divorce or separation process. Our team of specialized family lawyers are dedicated to providing you with the necessary legal advice and expert representation to ensure your most favourable outcome.
Property Rights
In British Columbia, the principle of “common property or joint property” is recognized, meaning that assets acquired during the marriage are considered the joint property of both spouses, regardless of who acquired or registered them.
This includes properties, bank accounts, investments, vehicles, and other financial assets. However, there are exceptions to this, some of which may include inheritances or gifts received by a specific spouse, as well as other circumstances which may deem what would normally by “common property or joint property” to be considered separate or excluded property.
Our Services
If you are facing asset and debt division in a divorce or separation in British Columbia, do not hesitate to contact Kohler Family Law. We are here to provide you with the expert legal support you need during this difficult process and will fight for your most favourable outcome.
Interesting Facts about Property and Division of Assets and Debts
- In Canada, property laws vary by Province, highlighting the importance of seeking specific legal advice for your location.
- Courts have some discretion when dividing assets and debts, evaluating each case individually to determine a fair division, highlighting the importance of providing the best arguments for your case.
- Couples are encouraged to consider a negotiated and detailed separation agreement, which can simplify the process of asset and debt division.
- Marital assets and debts can be evaluated by experts to determine their fair value.
- Prenuptial and Separation agreements can be helpful in establishing clear terms regarding asset and debt division in case of divorce or separation.
- The division of assets and debts can have significant tax implications, which should be considered when making decisions during the process.
- It is fundamental to have expert legal representation to protect your rights and achieve the most favourable outcome for your specific situation.
- Mediation and alternative dispute resolution can be valuable tools to reach mutually satisfactory agreements without the need for prolonged litigation.
610 – 19933 88 Avenue
Langley, BC V2Y 4K5
t. 778.366.2939
f. 236.473.0332
[email protected]
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