Optimizing The Division Of Family Property And Debt
After years spent living together, dividing a family’s property and debt can be complicated. Each spouse wants to exit the relationship with a share that is fair.
At Smyth Hoover Sandhu, our lawyers have helped thousands of families throughout Metro Vancouver and other parts of British Columbia to arrive at equitable arrangements during separation or divorce. As a boutique family law firm with lawyers who have years of experience in complex and high-asset property divisions, we generate creative solutions for dividing even the most complicated portfolios of assets and liabilities.
Property Division Begins With Thorough Identification And Full Disclosure
A crucial first step in dividing family property is to identify assets and liabilities clearly and completely. Some property is easily located and others are more difficult to detect. We can review available documents with you and discuss whether there is anything that suggests hidden assets, and if so, what options you have.
We can answer your questions and provide strategic advice on such financial components as:
- Excluded property — including gifts and inheritances
- Debt — liability before, during or after separation
- Business interests and structures
- Real estate — the matrimonial home, recreational properties and investment properties
- Investments — TFSAs, RSPs, mutual funds and stocks
- Government benefits such as Canada Pension Plan
- Employment benefits — which may include pension plans, stock options, profit sharing, group benefits and bonuses
- International assets
Valuations And Financial Forecasting
After the full complement of family property has been located, we work with professionals, including accountants and expert valuators, if necessary, to determine the value.
For assets such as RSPs or stocks, we can devise solutions aimed at maximizing your share without collapsing the investment entirely, triggering unintended capital gains or incurring avoidable fees.
We can also provide advice on complex assets such as corporate holdings. We work with experts to determine a resolution that minimizes transaction costs and taxes. We can also help you understand the risks, benefits and drawbacks of various options for receiving payment for your share.
Arrange An Initial Consultation At No Charge
We want to help you properly navigate the financial and legal complexities brought on by separation and divorce. We will guide you step by step and provide advice designed to place you in the best possible position to restart your life.