Property & Debt Division
Our Vancouver property and debt division lawyers are skilled at protecting your investments so that you can move forward on a solid financial footing following separation or divorce.
Our Vancouver property division lawyers know that issues with money and debt are often the #1 reason couples separate. Money problems, mounting debt, and disagreements over investments and finances often lie at the heart of high-conflict divorces. Without thorough advice from an experienced family law lawyer, property and debt disagreements can quickly escalate during the separation and divorce process.
Our property division lawyers at Nasser Allan can protect the assets and investments you’ve worked hard to obtain. From the outset, we work with our clients to put in place solid strategies and protections to ensure a fair and equitable property and debt division. Obtaining expert legal opinion from the outset of separation is critical, separating couples should never navigate the challenges of property and debt division without proper legal guidance. Contact us now so we can put together a solid plan to protect your financial future.
KEY ISSUES IN PROPERTY AND DEBT DIVISION
If you are married or are in a common law relationship of at least 2 years then the property division scheme under the Family Law Act will apply to your case.
Property acquired during the relationship is family property, subject to division.
The gain in the value of your excluded property is subject to division.
Family Law Act lets you trace your excluded property. This happens when, for example, you owned a house before the relationship, sold the house and used the net sales proceeds to purchase a new property during the relationship. In some circumstances, you may be able to claim the exclusion through tracing.
If you commingle excluded property with your spouse you may lose the exclusion.
Property acquired post-separation may be considered family property if it can be traced to a family asset.
Family debt is any debt incurred during the relationship and subject to division. Post-separation debt can be considered family debt if it was incurred to maintain family property.
Family property is divided equally between spouses (i.e. 50/50) unless it would be significantly unfair to do so, in which case the court may order reapportionment in favour of one spouse.
Talk to a lawyer before engaging in any serious discussions about dividing your family assets and debts. We are here to help.
PROPERTY AND DEBT DIVISION ARTICLES
How do I get a financial restraining order in my divorce? Explains our Vancouver-Based Family Lawyer
Our Vancouver-based family lawyer, Nassim Nasser, explains how you can protect and preserve your interests in family assets pending trial.
Is Family Property Split 50 50 in Divorce? Explained by our Divorce Lawyer, in Vancouver
The quick and dirty answer is, Yes. The Family Law Act?says family property is divided 50/50 between spouses unless it is significantly unfair to do so. But there is much more to it. Learn More.
Excluded Family Property in BC Family Law
This article considers the concept of excluded family property in bc and when it will be divided between separating couples.
What Our Clients are Saying
Frequently Asked Questions
Family Property is defined as all properties in the name of either spouse at the time of separation regardless of any contributions to maintenance or the acquisition of the asset(s). Family Property may include:
- RRSPS, Stocks, and
- Investments
- Pensions
- Shares in corporations
- bank accounts
- insurance policies (in particular cash surrender value)
- Gain in the value of excluded property
- Certain trusts (i.e. discretionary trusts are also considered family property, if they meet certain criteria).
Under the Family Law Act, subject to the spouse’s claim for exclusion, each spouse is presumed to have one half interest in Family Property.
Property acquired after separation, may also be considered family property if you can trace it back to a family property. For example, in Xu v. Chu, 2019 BCCA 414 (CanLII), our experienced property and debt division lawyers, were able to successfully argue that the husband’s condo, acquired post separation, is considered family property and the gain in the value of his condo should be divided equally between the parties.
Family Debt includes any financial obligation incurred by either spouse during the relationship. Debt incurred post separation may also be considered Family Debt if it is incurred for the purpose of maintaining family property.
Book your consult with us to learn more about what constitutes family property and debt.
Family Property is defined as all properties in the name of either spouse at the time of separation regardless of any contributions to maintenance or the acquisition of the asset(s). Family Property may include:
- RRSPS, Stocks, and
- Investments
- Pensions
- Shares in corporations
- bank accounts
- insurance policies (in particular cash surrender value)
- Gain in the value of excluded property
- Certain trusts (i.e. discretionary trusts are also considered family property, if they meet certain criteria).
Under the Family Law Act, subject to the spouse’s claim for exclusion, each spouse is presumed to have one half interest in Family Property.
Property acquired after separation, may also be considered family property if you can trace it back to a family property. For example, in Xu v. Chu, 2019 BCCA 414 (CanLII), our experienced property and debt division lawyers, were able to successfully argue that the husband’s condo, acquired post separation, is considered family property and the gain in the value of his condo should be divided equally between the parties.
Family Debt includes any financial obligation incurred by either spouse during the relationship. Debt incurred post separation may also be considered Family Debt if it is incurred for the purpose of maintaining family property.
Book your consult with us to learn more about what constitutes family property and debt.
Family Property is defined as all properties in the name of either spouse at the time of separation regardless of any contributions to maintenance or the acquisition of the asset(s). Family Property may include:
- RRSPS, Stocks, and
- Investments
- Pensions
- Shares in corporations
- bank accounts
- insurance policies (in particular cash surrender value)
- Gain in the value of excluded property
- Certain trusts (i.e. discretionary trusts are also considered family property, if they meet certain criteria).
Under the Family Law Act, subject to the spouse’s claim for exclusion, each spouse is presumed to have one half interest in Family Property.
Property acquired after separation, may also be considered family property if you can trace it back to a family property. For example, in Xu v. Chu, 2019 BCCA 414 (CanLII), our experienced property and debt division lawyers, were able to successfully argue that the husband’s condo, acquired post separation, is considered family property and the gain in the value of his condo should be divided equally between the parties.
Family Debt includes any financial obligation incurred by either spouse during the relationship. Debt incurred post separation may also be considered Family Debt if it is incurred for the purpose of maintaining family property.
Book your consult with us to learn more about what constitutes family property and debt.
Family Property is defined as all properties in the name of either spouse at the time of separation regardless of any contributions to maintenance or the acquisition of the asset(s). Family Property may include:
- RRSPS, Stocks, and
- Investments
- Pensions
- Shares in corporations
- bank accounts
- insurance policies (in particular cash surrender value)
- Gain in the value of excluded property
- Certain trusts (i.e. discretionary trusts are also considered family property, if they meet certain criteria).
Under the Family Law Act, subject to the spouse’s claim for exclusion, each spouse is presumed to have one half interest in Family Property.
Property acquired after separation, may also be considered family property if you can trace it back to a family property. For example, in Xu v. Chu, 2019 BCCA 414 (CanLII), our experienced property and debt division lawyers, were able to successfully argue that the husband’s condo, acquired post separation, is considered family property and the gain in the value of his condo should be divided equally between the parties.
Family Debt includes any financial obligation incurred by either spouse during the relationship. Debt incurred post separation may also be considered Family Debt if it is incurred for the purpose of maintaining family property.
Book your consult with us to learn more about what constitutes family property and debt.
Family Property is defined as all properties in the name of either spouse at the time of separation regardless of any contributions to maintenance or the acquisition of the asset(s). Family Property may include:
- RRSPS, Stocks, and
- Investments
- Pensions
- Shares in corporations
- bank accounts
- insurance policies (in particular cash surrender value)
- Gain in the value of excluded property
- Certain trusts (i.e. discretionary trusts are also considered family property, if they meet certain criteria).
Under the Family Law Act, subject to the spouse’s claim for exclusion, each spouse is presumed to have one half interest in Family Property.
Property acquired after separation, may also be considered family property if you can trace it back to a family property. For example, in Xu v. Chu, 2019 BCCA 414 (CanLII), our experienced property and debt division lawyers, were able to successfully argue that the husband’s condo, acquired post separation, is considered family property and the gain in the value of his condo should be divided equally between the parties.
Family Debt includes any financial obligation incurred by either spouse during the relationship. Debt incurred post separation may also be considered Family Debt if it is incurred for the purpose of maintaining family property.
Book your consult with us to learn more about what constitutes family property and debt.
Family Property is defined as all properties in the name of either spouse at the time of separation regardless of any contributions to maintenance or the acquisition of the asset(s). Family Property may include:
- RRSPS, Stocks, and
- Investments
- Pensions
- Shares in corporations
- bank accounts
- insurance policies (in particular cash surrender value)
- Gain in the value of excluded property
- Certain trusts (i.e. discretionary trusts are also considered family property, if they meet certain criteria).
Under the Family Law Act, subject to the spouse’s claim for exclusion, each spouse is presumed to have one half interest in Family Property.
Property acquired after separation, may also be considered family property if you can trace it back to a family property. For example, in Xu v. Chu, 2019 BCCA 414 (CanLII), our experienced property and debt division lawyers, were able to successfully argue that the husband’s condo, acquired post separation, is considered family property and the gain in the value of his condo should be divided equally between the parties.
Family Debt includes any financial obligation incurred by either spouse during the relationship. Debt incurred post separation may also be considered Family Debt if it is incurred for the purpose of maintaining family property.
Book your consult with us to learn more about what constitutes family property and debt.
Why choose us
We have the expertise
Our divorce lawyers have extensive legal knowledge to help you navigate complex legal disputes.
We care
We pride ourselves on our outstanding customer service, representing our clients with integrity and confidentiality.
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Communication with our clients is paramount. You will always be kept in the loop and know where your case stands.
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We are upfront with what will be charged to you and work together with you so your case strategy does not exceed your budget.
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