Property & Debt Division Family Lawyer in Vancouver

If you and your spouse are married or have lived together in a marriage-like relationship for at least 2 years, it is likely that the property and debt division scheme under the BC Family Law Act will apply to your case.

Property and debt division family lawyer in Vancouver – The Experience and Skill to Secure Your Financial Future.

If you and your spouse are married or have lived together in a marriage-like relationship for at least 2 years, it is likely that the property and debt division scheme in BC Family Law Act will apply to your case. Under the BC Family Law Act property is divided into two category: family property and excluded property. Family property and debt is split equally, unless it is significantly unfair.

Our property division lawyers, at the outset, provide you with a strategy setting out how to protect your property interests to ensure that your share of the property is maximized or protected to the greatest extent possible. We will also advise you about the viability of various options you have and possible defences you could raise so that you can make an informed decision about how to proceed.   We specialize in property settlements involving complex untangling of finances, including cases involving corporate, trusts and international interests.  Whatever you financial picture, we have the skills to ensure that you achieve a favourable property settlementContact us to strategize your case together.

It is important you address any issues arising from the breakdown of your relationship as soon as possible.  Decisions made in the short term can have serious implications for your financial future. Even if your partner has not raised the issue of property division, you should seek legal advice to make sure you know your entitlements before it may be too late.  It is important to know the applicable time limits for property division, which vary depending on whether you were married or living common law.

What is Family Property and Family Debt?

Family property is defined as property owned (either legally or beneficially) by either or both spouses on the date of separation. Property acquired after separation is presumed to be excluded property, unless the new property is acquired with family property.

Family debt is defined as debt incurred during the relationship. Debt incurred after separation only presumed to be family debt if it is incurred to maintain family property.

Property is valued at the time of trial and not at the time of separation, unless the parties agree to a different date or there is a court order to that effect.

What is Excluded Property?

Excluded property includes property you acquired before your relationship began, inheritances you received, gifts from a 3rd party, personal injury settlements for injury or loss (with some exceptions), money paid under insurance policy (except for loss of income), and any property you derived from your excluded family property.  It’s critical that you keep track of all source documents for excluded family property. You need to show what happened to this property during the relationship, to get your exclusion.

Only the gain in the value of excluded property will be subject to division. However, excluded property may be divided, if it’s significantly unfair not to divide it considering the duration of the relationship or a spouse’s direct contribution to the excluded property.

SUGGESTED DEFENCES TO PROPERTY CLAIMS

When your spouse applies for a property and debt division, one of our experienced property and debt division family lawyer will explain to you that there are number of defences you can raise to seek for unequal division of property. Some of those defences are:

Do you have an agreement in place that already provides for property division?

Is the property your excluded property?

Is the property not yours, even though its under your name?

Was your relationship too short rendering equal property division significantly unfair? Do limitation periods apply?

Will there be significant tax consequences (such as distributive taxes) as a result of property division?

CALCULATE YOUR SHARE OF THE PROPERTY

What our clients say

Nassim is an AMAZING lawyer. She knows the law, she explains everything to you and answers every question you have in detail, and will guide you in the right direction. She will never tell you what to do, but will tell you that “it’s your choice”, while giving you reasonable advice. I had a very difficult, stressful family law case, where I went through a couple of different lawyers. My last lawyer was Nassim, and her and I discussed a plan from day one, which lead our path. She had a sense of humour which made this stressful process much easier.

Nassim’s Client

Laura quickly came up to speed on my file and was able to gather precisely what had gone wrong with our previous lawyer and how to correct the situation. She was realistic, honest and upfront – qualities hard to find in legal representation. She represented facts, but also, for the first time in our year and a half ordeal, our lived experience was represented. Laura made us feel cared for and truly represented in court.

Laura’s Client

Nassim was an excellent Lawyer. She helped us settle and control the hustle environment we were into with ease. The result was greater than we ever had expected to happen in such short time. She is very knowledgeable and informative. Nassim was an absolute pleasure to work with. I would recommend her to anyone looking to for a family lawyer to get the job done.

Nassim’s Client

These last couple of months have been very stressful for me. Laura Allan has been very reassuring and patient. I found myself in the middle of a high conflict custody battle and I felt protected and taken care of the entire process. The emotional support and dedication to my case has been incredible.

Laura’s Client

Why choose us

  • We have the expertise

    Our client’s can rely on our extensive legal knowledge to help navigate complex legal disputes. We are skilled at devising appropriate, timely and effective tailor-made solutions to each specific legal problem.  We work hard to be on the forefront of developing legal trends and providing the most current legal knowledge available.

  • We care

    We have an established track record of providing trusted legal advice. We pride ourselves on our outstanding customer service, representing our clients with integrity and confidentiality while employing legal strategies that help our clients reach their legal goals.

  • We speak in plain language

    We will manage every aspect of your case and keep you informed of the latest developments. Communication with our clients comes first, you will always be kept in the loop and know where your case stands.  Our team is always here to answer any questions you may have.

  • We are efficient and cost effective

    We are upfront with what will be charged to you and work together with you so your case strategy does not exceed your budget. Transparent billing is important to us, you will be provided with a clear, honest accounting and cost estimate for ongoing work.

Free case evaluation

Whatever your situation is, we will achieve the best possible outcome.