Divorce is undoubtedly one of the most challenging experiences a person can go through. Amidst the emotional turmoil, understanding your legal entitlements in a British Columbia divorce can be a lifeline, offering clarity and a sense of control during a turbulent time.
BC’s Family Law Act, which replaced the Family Relations Act in 2013, provides a framework for the division of assets, debts, and ongoing financial support if your relationship breaks down, aiming for fairness and equity for both spouses.
Align Family Law understands how overwhelming the divorce process can be. That’s why our commitment is to guide our clients through the journey with compassion and understanding, ensuring they feel empowered to make decisions that are in their family’s best interest.
In this blog, our divorce lawyers outline some key points of the Family Law Act and explain why having an experienced lawyer by your side every step of the way can provide added security and support as you navigate through filing for divorce.
Property Division in British Columbia
In most cases, British Columbia courts strive for an equal division of family property and family debt. This means that regardless of who earned the income or whose name appears on the title, both spouses are generally entitled to half of the value of assets acquired during the marriage.
This includes a wide range of assets, from the family home and investment properties to bank accounts, vehicles, and even business interests.
However, it’s important to note that the 50/50 principle isn’t absolute. Certain assets, like inheritances, gifts, and property owned before the marriage, may be excluded from division.
Additionally, a judge can deviate from equal division if it’s deemed unfair considering factors like the length of the marriage, each spouse’s contributions (financial and non-financial), and their future economic prospects.
Calculating Child Support in British Columbia Divorce Agreements
If you have children, their financial needs remain paramount. Child support in British Columbia is calculated based on the Federal Child Support Guidelines, taking into account the paying parent’s income and the number of children involved.
The goal is to ensure that children continue to enjoy a standard of living comparable to what they had before the separation.
Is Spousal Support Always Granted in British Columbia Divorces?
The short answer: no, spousal support is not always granted in British Columbia divorces.
Spousal support, designed to address any significant income disparity between spouses after divorce, can be a crucial factor in ensuring financial stability for both parties.
Several factors influence the amount and duration of spousal support, including the length of the marriage, the income and assets of each spouse, and the contributions each made to the marriage (including childcare and homemaking).
How are Debts Divided in a Divorce?
Just as assets are divided, so are debts accumulated during the marriage. Typically, both spouses are responsible for shared debts, unless there are exceptional circumstances that justify a different arrangement.
The Benefits of Working with a British Columbia Divorce Lawyer
Navigating the complexities of property division, spousal support, and child support requires a deep understanding of family law in British Columbia. At Align Family Law, our seasoned divorce lawyers are dedicated to guiding you through this intricate process. We can help you understand your rights, advocate for your interests, and work towards a fair and equitable resolution.
Contact the Divorce Lawyers at Align Family Law Today
If you’re facing a divorce in British Columbia, seeking legal counsel is a crucial step in protecting your financial future and ensuring the well-being of your family. Our team is here to provide personalized guidance and support, helping you navigate this challenging time with confidence and clarity.
Remember, knowledge is your greatest asset during a divorce. By understanding your legal entitlements and seeking guidance from experienced professionals, you can make informed decisions that set the stage for a brighter future.
Don’t hesitate to contact Align Family Law for an initial consultation by filling out a form online or giving us a call at (250) 940-3599.
