How to Divide Family Property Fairly and Legally
Â
Â
If you are going through a divorce or separation, one of the most challenging and stressful issues you may face is how to divide your family property. Family property includes any assets or debts that you and your spouse acquired during your relationship, such as your home, vehicles, bank accounts, investments, pensions, mortgages, loans, credit cards, etc. In Saskatchewan, family property is generally divided equally between spouses, unless there are exceptional circumstances that make an equal division unfair or impractical.
However, dividing family property is not always a straightforward process. There are many factors to consider, such as:
- What is the value of each asset or debt?
- When did you acquire each asset or debt?
- How did you contribute to each asset or debt?
- Are there any exemptions or exclusions that apply to certain assets or debts?
- How will the division affect your taxes, benefits, insurance, etc.?
- How will the division affect your future financial security and lifestyle?
Nychuk and Company can help you with all aspects of family property division, such as:
- Negotiating a fair and reasonable settlement agreement with your spouse
- Drafting a legally binding separation agreement or court order that reflects your settlement
- Representing you in court if you and your spouse cannot agree on how to divide your property
- Advising you on how to protect your rights and interests throughout the process
- Assisting you with any post-divorce issues that may arise, such as enforcing or modifying your agreement or order