Resolving your property and financial matters upon the dissolution of a relationship can be incredibly difficult. There can be jointly owned pieces of real estate, family businesses, vehicles, individually held bank accounts, and other assets you have not even thought about for years. In today’s economic climate, we also have to take into consideration the ever increasing debt that many couples find themselves dealing with.
Divorcing couples have the benefit of the Matrimonial Property Act to help ensure a fair and equitable division of property. Where we are dealing with the breakdown of an adult interdependent partnership (i.e. a common law couple’s separation), the division is not necessarily the same. There is no legislation with respect to the division of assets and liabilities for common law couples, which makes this a challenging area of law to navigate.
Did you know that certain property – such as inheritances, lottery winnings, and insurance settlements – can be exempt from division? This is why it’s so important to work through this process with a lawyer providing independent legal advice, who is solely representing your best interests. We can help you determine what assets or debt are divisible, and who gets what.
At Oakley Family Law, we will help find a fair and equitable division that will let you move on with your life and focus on the future. Contact us online or call us today at 587-943-1394 to book your consultation.
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