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Division of property: Being prepared in the event of divorce

There's an old adage that says nothing lasts forever. No British Columbia couple heading down the aisle thinks they will one day be facing divorce, which encompasses having to deal with issues such as the division of property. So, some experts are actually saying couples should plan for a breakup before their marriages actually break down. Failing to plan for unforeseen events could have even more devastating consequences. 

That's what happened to one British Columbia couple whose case ended up before the Supreme Court and ultimately a provincial court of appeal. The couple, who married in 2009, separated in 2016. They started living together a year before they married in a home the man owned. In 2013, the husband put his wife's name on title and the two became joint owners of the home.

In 2012, the husband inherited money from his mother's estate to the tune of more than $160,000 -- $40,000 of which he deposited into a joint account he shared with his wife. To make a long story short when the couple separated, the two disagreed on the division of property and assets. An appeals court judge upheld the decision of a Supreme Court judge that the woman should receive $134,989 of the family property and the husband receive the remaining $337,702.

A lawyer experienced in family law in British Columbia can advise a client on the division of property. A lawyer may even be able to offer guidance to a client during the marriage as to what that is likely to constitute based on a client's individual case. Being prepared for things that may not happen, such as divorce, may be better for a couple in the long run.  

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