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Family Law Blog

October 2018 Archives

High asset divorce: Splitting the pie fairly

Some married professionals, like athletes, singers, actors and others with amassed wealth, believe they deserve more of the pie should they get divorced. Some of these individuals reside in British Columbia, and when they become embroiled in a high asset divorce, many try to pay as little as possible in spousal support. The law lays out the ground rules for what is acceptable.

High asset divorce: Divorce Act caters to the middle class

Couples who have more assets may have a more difficult time financially when it comes to ending their marriages. Couples in British Columbia who are in the middle of a high asset divorce may have the government to blame seeing that the federal Divorce Act was basically designed for middle income earners. Many wealthier people own businesses and the division of assets in the divorce process isn't all that straightforward.

Family law and business growth during a marriage

When a person owns a business in which a spouse is not actively involved, the owner may wrongly assume that the business is not shared property. In fact, under British Columbia family law, some business owners can find that their hard-built businesses are considered community property. It is a good idea to consider these legalities and to protect a business from such consequences in advance.

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