Deciding How To Divide Your Shared Property
Taking apart a life you have built with another person can be difficult – both emotionally and procedurally. At Long Family Law Group LLP, our goal is to help alleviate this burden by providing our clients with solutions that put them in a better place in which to move forward.
Based in Edmonton, Alberta, we help married and common-law separated parties divide their assets and resolve conflicts related to real and personal property, accounts and investments, and outstanding debts.
Dividing Personal Property
Banking issues, pensions, vehicles, sentimental items – these can all be difficult to divide upon separation. It is complicated by many factors. For example, the date of separation may impact property division, although there is no law that says assets are to be valued at separation. Also, you or your former spouse may own contingent assets such as stock options, the value of which can only be determined by future eventualities (stock values or exercise of options). Many assets can only be valued by estimates provided by experts, such as defined benefit pension plans.
Our legal team will guide you to determine what items should be considered family assets, and methods of division.
Dividing Real Property
The matrimonial home, vacation and recreational properties, and jointly held properties can all present complicated issues in divorce and separation cases. It can be even more complex for common-law couples, as matrimonial property legislation regarding property division do not apply to them in Alberta. That said, complex case law defines how to deal with property of common law partners upon separation. You need legal advice about this. It is not simple.
At Long Family Law Group LLP, we try to reduce the likelihood of adversarial litigation by focusing on finding meaningful solutions that can help you move forward after separation.