When a couple divorces, whether they were in a legal marriage or a common-law relationship, they must divide up the family property and debt. For many couples, this process is not easy, in particular, if they did not have an agreement in place that determined how they wanted the money to be handled in the event of divorce.
The default provisions of British Columbia law exclude certain kinds of property from being divided. These include inheritances and assets owned prior to the marriage, although in the latter case, the increase in the value of those assets is subject to division.
Laughlin & Company Lawyers Mediators in Port Coquitlam is well-equipped to advise clients on the financial aspects of separation. With a substantial commercial law practice, our lawyers understand complex financial portfolios and are experienced with issues such as business valuation, which sometimes comes into play during divorce.
Effective Legal Strategies For Property Division
At Laughlin & Company, we can help you to understand your options for property division as your relationship is being dissolved. While in a court process judges are generally required to follow the legislative presumption and divide most family assets and debts equally, in a mediation or private negotiation a couple can decide to create a settlement that works for them. Many couples take issues such as spousal support into account when deciding how to divide up the property.
For couples that have an existing marriage or cohabitation agreement, we will advise as to how that agreement applies to their divorce. An existing agreement will often take precedence over the default provisions of the law.
In all steps of property division, from itemizing assets to valuation, we can help you to understand and feel at ease with the process. Our objective is to help all clients to achieve a fair and just settlement in their divorce. To consult with our lawyers in Port Coquitlam on property division in divorce, call our real estate attorneys at 604-239-0800 or get in touch online. Our clients come from throughout the Tri-Cities, specifically Port Moody, Poco, and Coquitlam.