Property Division Lawyers Edmonton

Property division laws in Alberta are designed to ensure a fair distribution of assets between spouses. In Alberta, property division is governed by the Matrimonial Property Act, which provides specific guidelines for separating spouses. However, the dissolution of a relationship or marriage can be complex, and many factors may come into play. For example, the length of the marriage, the type of property that must be divided, and any pre-existing agreements, like prenuptial or postnuptial contracts. 

At Verhaeghe Law, our main goal is to assist couples in dividing their property equitably, based on the individual circumstances of each case. Our experienced property division lawyers in Edmonton are available to guide you through every step of the process, ensuring your rights and protected and your financial future is secure. To schedule a consultation with our team today, contact us online or call us at (587) 410-2500.

What is Considered Matrimonial Property in Edmonton?

Matrimonial property includes all assets and debts acquired during a marriage. This can include:

• The family home (the matrimonial home)
• Vehicles
• Savings accounts
• Investments
• Business interests
• Pensions
• Personal belongings
• And more

In general, property acquired during the marriage will be subject to division. However, there are exceptions for gifts or inheritances brought into the marriage. Our Edmonton property division lawyers can help you identify which of your assets are subject to division and which may not be.

Not all property is considered matrimonial. In certain cases, property acquired before the marriage, inheritances, or gifts from third parties may be considered exempt. However, if the value of an exempt property increases during the marriage, this increase in value may be subject to division. Determining whether property is exempt requires careful legal consideration. Our lawyers can assist in ensuring that all exemptions are properly accounted for in your property division or divorce agreement.

What Factors Are Considered During Property Division?

Alberta courts consider several factors when dividing matrimonial property. While the goal is an equitable outcome, the division of assets or property may not always be equal. Some key factors include:

• The Length of the Marriage: Longer marriages may result in a more equal division of assets, while shorter marriages might result in a division based on each spouse’s contribution.
• Contributions to the Marriage Made by Each Spouse: Both financial and non-financial contributions are usually considered. For example, a stay-at-home partner’s contribution to the household through the raising of children may be equally valued when compared to income earned by another spouse.
• The Financial Situation of Each Spouse: The court will consider the economic circumstances of both parties, including their income, health, and any ongoing financial obligations.

• The Needs of Any Children Involved: If you and a spouse share children, the court may prioritize awarding the family home to the spouse who has primary decision-making responsibility over the children

• Agreements Made Before or During the Marriage by Spouses: Prenuptial and postnuptial agreements can have a significant impact on how property is divided. If such an agreement exists, the court will generally try to uphold its terms. This is provided that it was made fairly and with full financial disclosure.

• And More

How Our Edmonton Property Division Lawyers Can Help You

The process of dividing property can quickly become overwhelming, especially when emotions run high during a separation or divorce. An experienced property division lawyer at Verhaeghe Law can help guide you through the process. Here’s how we can assist:

• Assessing Your Assets and Debts: One of the first steps you’ll take during property division is taking inventory of all of your assets and liabilities. This might include valuing real estate you own, vehicles, investments, pensions, and any debts you accumulated throughout your marriage. Our legal team can work with financial experts and accountants to calculate the value of your property.

• Determining What is Exempt: Our lawyers will carefully review your case to determine whether any of your property may be exempt from division. This can be an important step, as it will have a significant impact on the overall division of your assets during a separation or divorce. Our team can make sure that any exempt property you own, like gifts or inheritances, is protected.

• Negotiating a Fair Settlement: Most property division matters are resolved through negotiation. Our lawyers will work diligently to negotiate a fair settlement that reflects your financial needs and all the contributions you might have made during your marriage. If both spouses can agree, the negotiation process may be quicker and less expensive than going to court. 

• Litigation and Court Representation: If you can’t agree on how to divide your property during negotiation or mediation, our legal team is ready to advocate for you in court. Our property division lawyers in Edmonton have extensive experience in family law litigation. We can present a compelling case to ensure your rights are protected. 

Have Questions About Dividing Your Property? Book a Consultation With Our Edmonton Property Division Lawyers Today

Dividing property during a divorce can be stressful and complicated, but you don’t have to navigate it alone. At Verhaeghe Law, our Edmonton property division lawyers are dedicated to helping you pursue an equitable division of assets. We understand the emotional and financial challenges that come with property division and we are committed to providing compassionate, strategic legal representation.

To book a consultation with our team at a time that’s convenient for you, you can contact us online or call our Edmonton office at (587) 410-2500 today. Let us help you protect your rights and secure your financial future during this challenging time.