Dividing Family Debt
Determining A Fair Division Of Family Debt
Not only do shared assets and personal property need to be divided, but accrued debts must be accounted for as well. It’s important to know what debts were incurred before during, and after the relationship ended. Each scenario may result in a different outcome.
At Henderson Heinrichs LLP, our family lawyers will assist you in identifying what constitutes family debt. Based in Vancouver, British Columbia, we will advise married and common-law couples on their situations and how to best divide any shared debts.
A Fair Division Of Debt
Determining what is family debt and what should be excluded from family debt is something Henderson Heinrichs LLP has extensive experience in guiding clients through.
Contrary to what some may assume, an equal split of shared debts may not always be in the best interest of both parties. At Henderson Heinrichs, we will analyze each person’s responsibility for incurring debts, the maintenance of the debt, what assets have already been divided and whether the obligation to pay off the debts should be divided equally.
If the parties cannot agree on how to divide the debt, we will bring the matter to court and support your position on an unequal division of debts.
Helping You Choose The Right Legal Strategy
There is more than one way to resolve a family law dispute. Whether debt or another type of real property or personal property, the matter can be resolved in court, through mediation or through settlement discussions.
At Henderson Heinrichs LLP, we don’t just want you to understand the legal information – we want you to understand the bigger picture and how each process will affect your goals. We are always available to answer your questions, discuss your case and advise you on the decisions you make that will allow you to make meaningful choices about your future.
Legal Strategies Personalized To Your Situation
Contact Henderson Heinrichs LLP and learn more about what we can do for you. Call our family lawyers at 1-844-669-3500 or arrange a free half-hour consultation using our online enquiry form.