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Family law: Marriage and finances could be kept separate

A prenuptial agreement can safeguard the finances of an individual whose former spouse would have walked away with more than he or she deserved. Family law rules in British Columbia are pretty definitive on the division of assets upon the dissolution of a marriage unless a prenuptial agreement or a marriage contract stipulates otherwise. Prenuptial agreements have received a bad rap of simply being for wealthy people who want to safeguard their assets from a new spouse, but that is no longer the case.

Family law rules stipulate how lottery winnings should be split

It has been said that winning big money can change people. When one person in a couple wins a lottery or the couple themselves win and then separate or divorce later, family law rules in British Columbia will look at the individual situations. There are five cases, in particular, where the court decided lottery proceeds should be split equally.

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.

Prenuptial agreements an increasing family law trend

In the excitement of a new engagement, the topic of a prenuptial agreement can be difficult to raise. But the people who are willing to discuss this critical family law issue can find it lead to helpful conversations and important planning. While it may seem counterintuitive to discuss divorce when planning a marriage, British Columbia couples who choose to do so may find that it opens the door to better understanding and more security.

Are grounds for divorce required under B.C. family law?

One of the common misconceptions about divorce in Canada is that a person needs "grounds" to file for divorce. The majority of British Columbia divorces are no-fault, meaning that no reasoning is required to get the separation and subsequent divorce under family law. Understanding how separation and divorce work from a legal perspective is critical for anyone seeking to end their marriage in the province.

Family law considerations when divorcing with a business

Business owners may be used to being in charge, but in a divorce they may have less control. Family law can be complicated when it comes to businesses, especially if both spouses had a hand in their creation or if the valuation is difficult to pin down. Advance planning with marriage and shareholder agreements can help significantly to clarify these cases for British Columbia families.

Therapy can help with the emotional outcomes of family law

When going through divorce, people face financial, legal and emotional hurdles. While many experts recommend staying level-headed and businesslike when dealing with family law issues, this can be difficult for those also dealing with feelings of betrayal, hurt, sadness and resentment. Some people divorcing in British Columbia may find it helpful to speak with a counsellor or therapist while divorcing to manage these emotional issues in a separate and constructive way.

Divorcees should understand pensions splitting under family law

When it comes to divorce, splitting Canada Pension Plans can be a difficult matter. One British Columbia man is learning this complexity the hard way. After contributing for over 40 years, he is only getting $338 per month after tax from CPP -- after agreeing to split the amounts with his now late ex-wife. In B.C., divorcing couples are not required by family law to split pension credits, so it is important to make an informed decision about this issue. 

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