At DSG Family Law, we understand the importance of property and debt division for individuals navigating the complexities of separation or divorce. Our approach centers around creating an atmosphere that fosters support and cooperation, where open communication and understanding form the core of our process.
Our team of experienced lawyers is dedicated to guiding you through the intricacies of property and debt division, providing unwavering assistance and tailored solutions to address your unique circumstances.
We recognize that property and debt division can be emotionally charged, and our goal is to ensure a smooth and constructive process by emphasising empathy and respect. We work collaboratively with you to reach fair and equitable agreements that protect your rights and financial interests.
Property & Debt Division Lawyers in Langley, BC
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How Is Property Divided After Separation in BC?
Family property typically includes:
- The family home
- Vehicles
- Bank accounts and investments
- RRSPs, pensions, and insurance policies
- Business interests
- Any increase in value of excluded property
Excluded property is not divided, and may include:
- Property owned by one spouse before the relationship
- Gifts or inheritances received by one spouse
- Settlements or awards from personal injury claims
However, if excluded property has increased in value during the relationship, that increase in value may be divided.
How Is Debt Divided During Divorce or Separation?
- Mortgages and lines of credit
- Credit card balances
- Income tax debts
- Personal loans used for family expenses
Debts are usually divided equally, but in some situations, a different division may be appropriate, for example, if one spouse acted recklessly or dishonestly. Our family lawyers will help you assess the nature of your debts and work toward a fair division, whether through negotiation or litigation.
Proving Excluded Property: Protecting Your Assets in Divorce
- The family home, even if only one spouse’s name is on the title
- Bank accounts and investment portfolios
- Retirement savings, including RRSPs and pensions
- Vehicles and recreational property
- Business interests
- The increase in value of any excluded property
What Counts as Family Property in British Columbia?
This might include:
- Property title or ownership records
- Documentation showing the date the asset was acquired
- Records proving the asset came from a gift or inheritance
- Statements showing the value of the asset at the start of the relationship
- Written agreements, such as a prenuptial or cohabitation agreement
If documentary evidence is missing, you may still testify to establish your claim, but the court will closely examine your credibility and the consistency of your explanation.
Working with a knowledgeable family lawyer is key to preparing strong, admissible evidence that supports your claim to excluded property.
Excluded Property in BC Family Law
- Property owned by either spouse prior to the relationship
- Inheritances received by one spouse
- Gifts from third parties
- Settlements or court awards for personal injury (except for loss of income)
- Insurance payouts unrelated to family property
- Property held in a discretionary trust
- Property clearly derived from another excluded asset
- A beneficial interest in any of the above
Although excluded property itself is not divided, any increase in value during the relationship is considered family property and can be shared. This often creates complexity, especially when assets are co-mingled, reinvested, or changed in form.
Tracing Excluded Property: Why Documentation Matters
For example:
- Transferring excluded property into joint names can convert it into family property
- Using inheritance money to renovate a jointly owned home may impact your claim
- Selling excluded assets and reinvesting the proceeds without proper documentation may sever the connection
Maintaining clear records and keeping excluded property separate from shared assets is critical. Even well-intentioned financial decisions can unintentionally convert excluded property into divisible family property.
Get Trusted Legal Advice About Property and Debt Division
If your relationship recently ended and you are unsure of your rights as a common-law partner, our family lawyers can provide guidance and help protect your share.
Do Common-Law Spouses Have the Same Property Rights in BC?
Contact us for a free consultation today and speak with an experienced property & debt division lawyer and take the first step toward resolution.
What If We Cannot Agree on How to Divide Property or Debt?
Courts in BC will generally aim for an equal division of family property and debt unless it would be significantly unfair to do so. The judge may consider factors such as:
- The length of the relationship
- One party’s contribution to excluded property
- Any written agreements, such as prenuptial or separation agreements
- Financial misconduct or concealment of assets
At DSG Family Law, we offer strong legal advocacy whether you are pursuing an agreement or require court representation.
At DSG Family Law in Langley, BC, we understand the far-reaching impact of family law matters like divorce and legal separation on parental rights, personal property, children, and assets. Our professional and highly skilled family lawyers are committed to providing you with expert representation, tailored to your unique needs.
We take a client-centred approach and offer both comprehensive and unbundled legal services, ensuring you receive the support you require at an affordable cost. As a paperless firm, we prioritise efficiency, making your experience with us seamless and stress-free.
Count on DSG Family Law for accessible, compassionate, and trusted family law representation in Langley, BC. Book a free consultation and let us guide you through these crucial legal matters with clear solutions to complex family matters.
Langley B.C
DSG Family Law
At DSG Family Law, we understand that family law matters can be overwhelming and emotionally challenging. Our Family Law Consultations are designed to create a welcoming, comforting, and collaborative environment where you can discuss your concerns and aspirations freely.
We listen attentively to your unique story and provide a safe space to express your needs and goals openly. Our compassionate team of experienced lawyers is here to support and guide you every step of the way.
During the consultation, we take the time to understand your situation fully. We believe in fostering a collaborative approach, where you are actively involved in the decision-making process. Our goal is to empower you with knowledge and options, so you can make informed choices for the future of your family.
