Division of Family Propety
Factors involved in property division
If you have multiple assets in your marriage, you will want to have a lawyer on your side to help you handle the complex process of property division and ensure that the rights and financial interests of your family are protected. Our lawyers have been guiding families through this process for over 30 years. We can help outline your options to protect your assets and if possible, avoid unnecessary time spent in litigation.
How to deal with unequal contribution
In some marriages one spouse may contribute more financially to the family estate. In other marriages both spouses may contribute equally initially but later contribute unequally due to life changes such as when one parent leaves work to take care of the children. Such factors as level of contribution and reasons for financial contribution discrepancies will have a significant impact on the outcome of a divorce or separation agreement. Our lawyers will do their best to find a solution that works for both parties and if possible resolve disagreements in a harmonious manner. However, we are prepared to go to court if necessary to ensure your rights.
Often parents will quickly become involved in a divorce, especially if they have provided significant financial assistance to the couple during their marriage. If you are concerned about getting back or protecting your investment as a parent please come talk to us. We can help you find a solution within the law that will protect your investment and financial interests in the event of a divorce. Even if you are just concerned about what will happen to your investment and what you can do if no protections have been put in place, we can help explain how the law will pertain in the complicated situations of divorce and help you to make informed decisions during this time.
You might be concerned about how divorce will affect any significant inheritance (money or assets) you have already received or expect to receive in the future. According to the law, any funds or assets inherited during a couples relationship may be split up between the couple. However, there are ways to protect your inheritance. If you received an inheritance during your marriage come and talk with us. We can help you find a solution to protect your right to your inheritance from future marital property division.
Sometimes at the start of a relationship one spouse brings more into the relationship financially than the other whether it is through their own personal wealth or contributed indirectly from their parents or in laws or other family members. In such cases such assets may not be divided equally at divorce. However, gains on inherited or non inherited assets, such as a house, during the marriage are considered to be part of the estate and should be divided equally. For example if your parents gave you a house or you bought the house that you and your spouse have been living in, the money you invested in the house does not get divided equally between you and your partner. On the other hand, if the house goes up in value by $200,000 that $200,000 will be divided equally as part of the estate. If you have any concerns about how your assets or indirect contributions from family will be affected by divorce please come and talk to us. We will work with experts in accounting, tax advice, forensic experts and appraisers to ensure your needs are met.