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Dividing Your Assets And Debts
Division of assets and debts can be one of the trickier parts of a divorce or separation, not just because of the amount of money involved. It is important to divide all assets and debts fairly, not only to end the phase of your life that was spent together, but also to be in the best position possible to begin the next stage of your life.
Ganapathi Law Group in Vancouver can help you divide your property and move forward. Give us a call today to arrange an initial consultation.
Property division is legislated under the Family Law Act and is normally fairly simple — aside from the fate of assets such as the marital home. However, a number of issues may affect your division of property, including:
- International Property: We will examine both the value of your property and any differences in the laws governing how it is divided at the end of a relationship.
- Prenuptial Agreements: Also referred to as prenups are especially common if either partner brought significant assets before the marriage, and may exempt some property from being treated as a common asset.
- Disagreements over the Value of Property: If your property is complex and includes investments and business assets, our lawyers may recommend bringing in specialized professionals such as accountants and business valuators.
- Hiding Assets: Full disclosure of all assets is essential to fair property division. The courts treat any dishonesty or lack of forthrightness very harshly, just as they do lack of honesty in disclosing income for child and spousal support.