It has been said that money is the #1 reason couples separate. It's true that money problems often lie at the heart of high-conflict cases. Consequently, the division of shared property during divorce or separation can quickly escalate out of control if not properly supervised and managed.
Westside Family Law maintains a strong reputation within the Vancouver legal community for our services in asset protection and the division of family property. We regularly assist corporate executives, elite artists, athletes and a variety of professionals with extensive property concerns. As with all areas of our practice, we focus on resolutions that make sense for your needs and your family's particular circumstances.
“We seek to level the playing field by offering sound advice and responsive action to protect your right to a fair share under the law.”
Dividing High-Value Property Division and Preserving Wealth
Many of our clients have significant assets such as family businesses or private practices, multiple real estate holdings, pensions or other retirement savings, and extensive investment portfolios. Moreover, we have particular experience managing cases involving generational wealth, where parents or extended families have contributed to a marriage or relationship that has now broken up.
The nuances of dividing high-value or complex assets require delicate management and practical experience, skills that our firm brings to each case. We will seek to help you take the proper steps to protect your investments in the relationship so that you can move forward on a firm financial footing.
The first step is to ensure that you own copies of all statements and accounts and that you document any agreements, verbal or otherwise, made between you and your partner. This documentation is critical to success, as a judge can only do so much without proper documentation. Our lawyers can assist you in gathering this evidence. We can also investigate cases where assets have mysteriously evaporated or instances where hidden assets are suspected.
Protecting Yourself After Separation
In general, it is difficult to recover assets spent by a spouse who runs down bank accounts or investments or racks up huge amounts of debt on shared credit cards after separation. Therefore, if your partner controls access to the money, investments, credit cards or the property you share jointly, you need to take steps right away to protect your portion.
Too often, we have seen married and common law spouses get burned by assuming things will just work out because they are not accustomed to handling the taxes or financial affairs of the family. Or they sign agreements essentially waiving their rights to property or support that is under the value the law requires. In some cases, such agreements can and have been reversed by the Court, but it is not guaranteed.
Our lawyers at Westside Family Law have extensive experience managing divorce cases involving multigenerational financial assistance. We know what experts to call on for support, if needed, to ensure that your assets and family's interests are preserved. They include:
- Tax advisers
- Forensic experts
- Business evaluators and appraisers
Our efforts include a review of your estate documents as well. Any inheritance bestowed on a child is considered excluded property if the child divorces or separates. However, though the actual balance may be excluded, any interest or gain on that inheritance during the marriage may be divided by the Court or by agreement.
Get Your Questions Answered
Having a skilled and confident lawyer at your side is thus critical to your success. We will help you understand the law and how it applies to your unique circumstances, taking the appropriate steps to protect your financial future. Fill out the contact form below to set up a free consultation with a lawyer, or call us at 604-734-7911 to get started.