Asset division is an important part of divorce and separation. During a marriage, finances of both spouses are usually combined. At Walsh LLP, we can help you to understand your financial rights when you get divorced or separated. We advise and represent people in both common-law relationships and marriages through the process of resolving issues connected to relationship breakdown.
In general, married people have a right to an equal share of matrimonial property upon divorce or separation. This includes assets acquired during the marriage. Specific examples include the matrimonial home, cars, household possessions, stocks, investments and business interests. Employment pensions and RRSPs may also be divided, but they are subject to specific considerations.
Some assets, including inheritances, gifts and property one spouse had prior to the marriage, are excluded from asset division. During negotiation of a divorce settlement in Alberta, unequal division of property is possible — other aspects of discussion, including spousal support, may affect how financial assets are allocated. At Walsh LLP, not only will we guide you through the process of negotiation, but we will also be your advocates.
Different laws apply to spouses leaving a common-law relationship; however separated common-law spouses can also pursue a claim for financial compensation or property division upon separation. In law, it takes the form of a trust claim or a claim for unjust enrichment. At Walsh LLP, we can walk you through the steps of a common-law separation and your options for settlement.
Experienced Legal Advice
Walsh LLP has a more than 50-year history in Calgary. Our family law practice group is team-oriented, and we frequently call upon other lawyers in the firm to provide assistance in order to give the best possible service to our clients.
Asset Division Lawyers: Serving Okotoks, Calgary And Throughout Alberta
To schedule a consultation with one of our division of property lawyers based in Calgary or Okotoks, contact us online or call 403-267-8400 locally, 800-304-3574 toll free.