Parties looking to get a divorce may have run a business together. After the breakdown of the marriage, the parties need to determine how to divide the property, including the business or businesses that operated during the marriage. This can be a complex issue after the business has grown significantly and its value has increased.… Continue reading Dividing High-Value Corporate Real Estate of Family Business in Divorce
Category: Property
Dividing a Professional Corporation During a Divorce
In the event of a divorce, one of the issues is how to divide the matrimonial property. One or more parties may be self-employed and own a professional corporation, which will be divided into matrimonial property. This includes doctors, lawyers, dentists, and other professionals. The process of determining the value of the professional corporation can… Continue reading Dividing a Professional Corporation During a Divorce
Does Your Ex-Spouse Need to Pay Rent for Living in the Marital Home?
Both parties must make arrangements for their new living situations upon a divorce. In some cases, one ex-spouse may remain in the matrimonial home. They may or may not be paying for expenses related to the home. It may be possible in some circumstances for the spouse who moved out to claim occupation rent in… Continue reading Does Your Ex-Spouse Need to Pay Rent for Living in the Marital Home?
Understanding Dissipation or ‘Wasting’ of Family Assets
Before property is divided upon divorce, one of the parties may hold and have control over the particular asset. This may raise concerns for the other party, who may believe that the spouse controlling the property may be ‘wasting’ the asset, meaning that they are decreasing the value of the asset in some way, which… Continue reading Understanding Dissipation or ‘Wasting’ of Family Assets
Lost & Found: How Experts Can Help Locate Hidden Assets and Income in a Divorce
In Alberta, the parties to a family law proceeding are required to disclose all relevant financial information necessary to help a court properly determine the appropriate amount of spousal or child support, as well as a fair and equitable division of assets. Suppose a party fails to provide full disclosure as requested or provides inaccurate… Continue reading Lost & Found: How Experts Can Help Locate Hidden Assets and Income in a Divorce
How Does Bankruptcy Impact Property Division and Financial Support in a Divorce?
Financial problems, such as ever-expanding debt, can be a source of extreme stress for individuals and families in Canada, which is why they are often cited as a leading cause of divorce and separation. Conversely, divorce and separation can also prompt financial troubles, with families going from one shared household to two. In cases of… Continue reading How Does Bankruptcy Impact Property Division and Financial Support in a Divorce?