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Vancouver and Edmonton Family Law Blog

Deciding how to divide personal property in a divorce

Take a minute and think about all the things you own. You probably start thinking about homes and cars you have, but also think about everything in your home, your garage and any storage facilities you might have. These items can be personal property subject to division in a divorce.

It can be easy to overlook these assets during a divorce, but parties will need to divide them. Below are some tips for how to approach the division of your personal property.

Managing the details of divorce: A surprising challenge

When people think about the difficulty of divorce, they often think of the myriad issues they must resolve. However, another challenge that many people face is simply staying organized. 

Divorce is a legal process, and as such, it involves a lot of details and paperwork. 

When a prenuptial agreement may be set aside

If you are planning to get married soon, you may very well be considering a prenuptial agreement. A prenuptial agreement can protect a number of interests and properties you may have before and during marriage, and it can be wise for many parties to have one.

Understand, though, that these are legal contracts, so you must take them seriously. This means working with a lawyer to draft one and reviewing it carefully before signing, as a prenuptial agreement will not be effective if it is invalid. Below are some reasons why the courts may set aside a prenuptial agreement and the decisions made within it.

How do we address debt during a divorce?

When people think of dividing property during a divorce, they often think of their assets like the matrimonial home, bank accounts and personal property. However, you will also need to address debt.

Dividing debt is similar to dividing assets. However, the process can be more challenging than people expect, particularly if parties hope or expect to divide debt unequally. However, with some basic information on the process, it can be easier to understand how you can address debts if you are divorcing.

What happens if I don’t pay child support?

Every parent has a responsibility to financially support his or her child. If this responsibility comes in the form of a child support order from the courts, you must comply with it.

If you are late or miss court-ordered child support payments, you could face a wide range of consequences.

Assets that can have a surprising impact on property division

When divorcing in BC, parties will typically divide family property equally. Often, people focus on the high-value items, like a matrimonial home, cars and retirement plans, as they can hold the most obvious financial significance.

However, there are other assets that can have a surprising impact on the process of dividing property.

Understand your legal options. Make informed decisions. Contact the family law lawyers of Henderson Heinrichs LLP

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