While there is a strong presumption that marital assets should be divided equally between the two parties, either the couple or the court can decide to divide assets differently. There must be a good reason for varying from that initial position, and the ultimate division must be fair to both parties.
Some common reasons to consider an unequal division of the marital assets are as follows:
- One party received an inheritance prior to or during the marriage
- One party has an illness or disability
- The marriage was short
- One party has been solely responsible for maintaining the assets since separation
The lawyers of Quay Law Centre are experienced in developing non-standard plans for dividing family assets during divorce or separation. We provide creative solutions that protect our clients’ current and long-term interests. When developing a plan, we consider the entire financial picture, including:
- Current income
- Future income
- Earning ability
- Education and training
- Child support
- Spousal support
- Other relevant factors
To learn more about protecting your future by negotiating a fair property division arrangement, please contact our family law group today.
Depending on our client’s goals, our experienced lawyers may suggest an alternative plan for dividing the property. For example, it could be appropriate to divide the matrimonial house 80/20 and the rest of the assets 50/50, or divide all assets 70/30 in lieu of providing spousal support. There is a great amount of flexibility in how these asset division arrangements can be structured. In cases where a spouse stayed home to raise the children or to take care of the household, an unequal division of property is often approved.
It is also important to take into consideration the tax and business implications. When required, the lawyers at Quay Law Centre will consider these implications in conjunction with accountants, tax and business lawyers.
No matter the scenario, these cases can be highly contentious. At Quay Law Centre, we have the experience, knowledge and resources to tailor our representation as needed for each unique case.
To schedule a consultation, contact Quay Law Centre online, or call us locally at 604-527-1161. From our multiple offices, we represent clients in the Metro Vancouver area, including Surrey, Fraser Valley, Tri-Cities, Burnaby, Kelowna, and any other area throughout B.C., Canada and internationally.