Q.E.D. Law is a trusted legal resource with extensive experience in property division cases during divorce. Our team of experienced attorneys is committed to helping you navigate the intricacies of property division, ensuring that your rights and financial interests are protected.
It’s understandable to be afraid of losing everything in a divorce, but in Alberta, the division of property is guided by the principles of fairness and equity. The Family Property Act of Alberta replaced the Matrimonial Property Acton January 1, 2020, and applies to all spouses and adult interdependent partners who separated after that date. (If your relationship dissolved before this date, the Matrimonial Property Act applies).
Family property refers to everything acquired during the marriage or relationship, including assets (like real estate, bank accounts, investments, or vehicles) and debts (like mortgages, loans, and credit card balances). Both parties must disclose all relevant information to reach a binding settlement agreement or before trial.
Generally, property is divided equally in Alberta, unless you have a valid pre-existing agreement, but the court may be persuaded to order an unequal division if warranted by the circumstances. This could include a successful business run by only one spouse or partner, or issues like gambling or affairs. In this case, the court can attempt to address the discrepancy though a Family Property Order.
Protecting Your Rights
Our skilled team can help you understand the legal nuances of property division and work diligently to create agreements that address your needs while minimizing conflict. In cases where disputes arise, we can advocate on your behalf to protect your rights and financial well-being. The ultimate goal is to provide a just and balanced outcome that helps each party transition into their post-divorce life with financial security.
It’s important to note that time limits apply to property division. Depending on your situation, this may vary. Contact us today for timely legal counsel on property division to secure your financial future during divorce or separation.
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