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Knowledgeable Legal Guidance For Property Division Matters

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Each Canadian province has its own legal statutes regarding the division of property in divorce. In Alberta, the Matrimonial Property Act (MPA) sets rules to ensure that property is divided in a fair manner when a marital relationship ends. The MPA does not apply to unmarried or common law couples.

At Byron & Company, in Fort McMurray, we help our clients who are getting divorced reach agreement and protect their rights regarding the equitable distribution of marital property and debt. We also help unmarried or common-law couples navigate their property distribution, as the rules are complex. We work to reach agreement on property division without the need to litigate. Doing so allows the parties involved to retain more control over the process and usually reduces the amount of stress involved as well as the cost.

Defining Matrimonial Property

The initial step in dividing matrimonial property is to identify and properly value all property that is jointly owned. Matrimonial property is defined as any property that was acquired during the marriage. The MPA calls for dividing matrimonial property equally. Debt that has accumulated during the marriage is usually divided equally as well. Property that was owned separately prior to the marriage is not subject to equal distribution. Assets that are inherited, awards or settlements for tort damages and gifts from a third party also are usually considered separate property.

Disputes may arise over properly identifying or valuing matrimonial property. We have the experience, knowledge and resources to work with high-asset couples who must divide complex holdings. This may include:

  • A family-owned business or professional partnership
  • A second home or investment real estate
  • Pensions and retirement accounts
  • Art and antique collections
  • Suspected hidden assets

It is also important to pay attention to tax consequences of property division. We will review the tax consequences with you and help you determine what makes the most sense.

A Strong Yet Sensible Approach

By working with the experienced lawyers at Byron & Company, you will be able to take a strong yet sensible approach to the division of property. The decisions that are made will have long-term consequences on your financial foundation as you begin a new phase of life. We are here to put you in the best possible position to move forward.

Call 780-715-1002 or use our online contact form to schedule a free 30-minute consultation. We will answer your questions and provide a candid assessment of what you can expect.

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Serving Fort McMurray And Surrounding Communities
10011 Fraser Ave.
Fort McMurray, AB T9H 2C8

Phone: 780-715-1002
Fax: 780-715-1099
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