While there is a strong presumption that marital assets should be divided equally between the two parties, either the couple or the court can decide to divide assets differently. There must be a good reason for varying from that initial position, and the ultimate division must be fair to both parties. Some common reasons to consider an unequal division of the marital assets are as follows:
- One party received an inheritance prior to or during the marriage
- One party has an illness or disability
- A short marriage
- One party has been solely responsible for maintaining the assets since separation
Our Divorce lawyers are experienced in developing non-standard plans for dividing family assets during divorce or separation. We provide creative solutions that protect our clients’ current and long-term interests. When developing a plan, we consider the entire financial picture, including:
- Current income
- Future income
- Earning ability
- Education and training
- Child support
- Spousal support
- Other relevant factors
- Unequal Division
Depending on our client’s goals, we may suggest an alternative plan for dividing the property. For example, it could be appropriate to divide the matrimonial house 80/20 and the rest of the assets 50/50, or divide all assets 70/30 in lieu of providing spousal support. There is a great amount of flexibility in how these arrangements can be structured. In cases where a spouse stayed home to raise the children or to take care of the household, an unequal division of property is often approved. It is also important to take into consideration the tax and business implications. When required, the lawyers will do so in conjunction with accountants, tax and business lawyers.
No matter the scenario, these cases can be highly contentious. We have the largest group of family law lawyers in one British Columbia law firm, all with varying areas of focus. From experienced litigators to collaborative lawyers, we tailor our representation as needed for each unique case.