In family law, capital gains can arise when dividing family property. They are often overlooked by family lawyers in the division of family property and therefore can be a hidden liability that only becomes known after a separation agreement has been signed. Unfortunately, if a capital gain is not accounted for in the division of family assets in a binding separation agreement, someone may be getting a bad deal.
The family lawyers from Crossroads Law located in Vancouver BC and Calgary AB have a client centred approach to help you successfully navigate the family law system. Our experienced family and divorce lawyers author these blogs to provide you insight and to help you through this challenging time.
Publications Categorized "Matrimonial Property"
Most people who are getting separated or divorced are dealing with family law issues for the first time. It can be a confusing and daunting task to navigate the family law court registry.
A question I hear a lot is, what happens to the engagement ring if we break up? As is so often the case in family law, the answer really depends on the circumstances. The main factor is what stage were the parties in their relationship when they separated.
Going through a divorce can create a number of issues that were never expected. Spousal support, child support, the division of matrimonial property and custody of children are generally areas that are known to those contemplating divorce or separation.
The spouse had siphoned hundreds of thousands of dollars from a family business during their marriage to fuel a gambling habit, court documents show.
One of the most important steps in any separation or divorce is the disclosure process. Before the parties can determine how to divide matrimonial debts and assets, both sides need a complete understanding of what those debts and assets are.
It may be the question family lawyers get asked the most: how long do I have to live with my partner until we are considered common-law? Generally, the law in British Columbia is 2 years, but there are some exceptions.
We are proud to announce our latest family law success at the British Columbia Supreme Court.
At common law, joint tenants in a property enjoy equal rights to occupy the property. Neither co-owner has a right to exclude the other from the property.
A BC Supreme Court judge has been placed in the difficult position of dividing assets in a divorce when the couple's "family business" for over two decades was illegal marijuana.
The gifting of down-payments by parents to their children is on the rise as home ownership becomes increasingly unattainable in many Canadian cities.
When dividing matrimonial property in a separation or divorce one of the biggest questions that we get is, “How do my spouse and I divide our RRSP’s?” & Is it Better to Transfer RRSP’s or Keep Them, and Pay my Spouse Out of Other Assets?
The exchange of information is critical in any family law case. Without the exchange of relevant information neither side in a legal action may know what their claim is, what their chance of success may be, or even if they have a case at all.
When a married couple decides to get a divorce, one of the major issues that must be settled is division of property. Division of matrimonial property is governed by the Matrimonial Property Act in Alberta and the Family Law Act in BC.
The division of matrimonial assets upon divorce and separation is a very complex matter. While the law stipulates that matrimonial property is generally split 50/50, that may not make sense practically.
Your ex stuck you with the bill for the family home, took off and you can’t afford to continue to pay the mortgage. Debt is adding up, and the taxes are due. Foreclosure is a real possibility. You need your ex to sign off on selling the property, and they refuse. How do you protect your credit, and the equity in the home? One option is to force to sale of the matrimonial home.
It is very clear that people love their pets. There are now pet spas and salons and pets can even get acupuncture. When divorce happens the issue of who gets Fluffy often arises and some people also want to know if they can claim support for pets like they would for children.
Sometimes neither spouse can keep the family home because they cannot qualify for the mortgage on their own and they may not be able to find a cosigner. Also, one spouse may need to pay the other out if they keep the home because keeping the family home means that they will have more of the total family assets and property. When spouses separate, all assets and debts needs to be identified and valued to determine who will get what.