What you need to know about dividing assets in a divorce

On behalf of Gary Kirk of Kirk Montoute Dawson LLP posted in Family Law on Sunday, August 23, 2015.

In most cases, the division of assets is the biggest issue that needs to be addressed in the course of a divorce. While there are guidelines in place that speak to the matter, in certain circumstances, a lawyer who has experience in this field can find an alternate approach.

Under the Matrimonial Property Act of Alberta, when a couple decides to end a marriage, the couple’s assets are to be divided equally. Not all assets are treated the same however, and it may be possible to exclude rights to certain property such as:

  • Professional corporations and businesses
  • Commercial property
  • Real estate
  • Stock incentives
  • Non-registered investments
  • RRSPs
  • Pensions

Among other things, cohabitation and prenuptial agreements could influence those exclusions.

Upon a divorce it is important that those involved take steps to secure a financial situation that is positive. For the best possible outcome in a divorce it is important that the details be taken into account. Accordingly, it is not uncommon to utilize professionals such as accountants, business valuators and financial advisors to assist in the negotiation of financial settlements.

We represent individuals seeking to end their marriages and understand the importance of these professionals. Whether the matter is resolved in alternative dispute resolution or in court, we understand the system and how to navigate it. To learn more about how we might assist you, please see our webpage on the division of matrimonial property.

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