Who gets what in a divorce in Edmonton?
This is usually one of the main topics of conversation on the table when the dust settles and a couple makes the decision to formally divorce.
The division of marital property is rarely straightforward and may involve protracted discussions between spouses and their lawyers, mediation, or even litigation.
To avoid the delays and expense of a long legal battle, it helps to know what you are entitled to as a divorcing spouse in Alberta. Understanding what you can legally expect can be the starting point for fruitful discussions with your partner.
The main piece of legislation that governs marital property division here is the Matrimonial Property Act. This states that matrimonial assets (and debts) must be divided equitably (fairly) between divorcing spouses – provided that the spouses have been married for a year or more.
In reality, this often means an equal division of assets, but the court can consider exceptions that complicate matters and may result in property not being split 50-50 down the middle.
When a married couple divorces in Alberta, each partner in the relationship must declare his or her property. If there are problems in arranging this, it can usually be obtained by filing a Notice to Disclose/Notice of Motion with the court.
Most property accrued during a marriage is regarded as a marital asset. This includes:
Unless the property is specifically classed as exempt from being considered a marital asset (see below), it will likely be considered part of the marital estate.
Each financial contribution to the marriage should be categorized in one of the following ways:
Certain items of property are classified as “separate” property but note that if an exempt asset has increased in value during the marriage, the increase in value of that asset is liable for division under Alberta’s marital division laws.
For many couples, the major property division question during a divorce concerns the matrimonial home.
This property is normally considered part of the marital estate and subject to division. However, it is obviously not possible to divide a house so one partner (often the spouse with the children) may live in and take ownership of the matrimonial home – or it may be too large an asset to be awarded to one of the spouses and need to be sold.
The effect of the matrimonial home on the general division of assets will need to be calculated and assessed. A property division lawyer will be able to assist with this.
Note that with the matrimonial home (and, indeed, all marital asset division), there may be important tax consequences to consider. It is best to discuss your situation with a competent financial professional or a lawyer with extensive local experience in property division matters.
Divorce litigation is time-consuming and expensive. It is usually in the interest of both spouses to agree on property division through a process of discussion, collaboration between lawyers or mediation.
The lawyers at Spectrum Family Law in Edmonton are ready to listen to and advise you of your legal options during an initial consultation.
We currently have three offices across Alberta — Edmonton, Calgary, and Red Deer. We serve the entire province of Alberta (and BC). We also have the infrastructure to work with any of our clients virtually — even the furthest regions of Alberta.
Call 1 (855) 892-0646 (toll free) to get routed to the best office for you or contact us online for general inquiries.
We also have a dedicated intake form to help you get the ball rolling. Our intake team will review your specific case and advise you on the next steps to take as well as what to expect moving forward. That’s the best way to schedule an appointment
Our offices are generally open 8:30 a.m.—4:30 p.m., Mon—Fri.
