CALGARY ALBERTA MATRIMONIAL PROPERTY DIVISION – HOW WILL WE DIVIDE OUR PROPERTY?
Calgary Alberta Matrimonial Property Division Lawyers help separating couples, classify, value and divide Calgary matrimonial property. MacLean Law’s award winning Calgary Alberta Matrimonial Property Division Lawyers deal with medium to high net worth Calgary and BC matrimonial property division issues. We’ll focus on negotiating, mediating and if required to ensure a fair result, letting a judge decide the disputed issues related to matrimonial property, exempt property and gains on exempt property.
Calgary Alberta Matrimonial Property Division Lawyers 403-444-5503
Separating couples in Alberta often have many questions including:
- “who will look after the children?” (Parenting);
- “How do we look after the children financially?” (Child Support);
- “How do we look after ourselves financially?” (Spousal Support).
One of the biggest questions (especially for couples who have been together for a long time and have acquired a significant amount of property) is:
- “how will we divide our property?” Division of Matrimonial Property.
Our skilled and experienced Calgary Alberta Matrimonial Property Division lawyers can assist you in answering these and the many questions regarding the division of matrimonial property, including:
How will we divide our matrimonial property in Calgary, Alberta?
The division of matrimonial property upon breakdown of marriage in Alberta is governed by the Matrimonial Property Act (MPA). The MPA seeks to divide the property of separating spouses in a “just and equitable” manner, which usually means equally, or 50/50, but there are many matters that must be considered in this equitable distribution. Find more free information on property division in Alberta.
In today’s blog by Peter Graburn, our senior associate who heads our Calgary team of Calgary Alberta Matrimonial Property Division Lawyers, breaks down a complex topic into a simplified synopsis of what happens when you separate and you want to fairly divide the matrimonial and other classes of property under Alberta law. Certain kinds of property acquired before the marriage may not be divided when a marriage ends. This is called ‘exempt property’. However, sometimes the increase in value of exempt property may be considered ‘matrimonial property’.
MacLean Law’s Calgary family lawyers office is located in downtown Calgary in Bankers Hall and we can be reached at 403-444-5503.
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What’s included in the division of matrimonial property in Calgary, Alberta?
Matrimonial property includes both assets and the debts associated with that property and family expenses, specifically:
- Real Estate (matrimonial home, acreages, cabins, etc.)
- Businesses (whether full-time or part-time)
- Vehicles (cars, trailers, quads, sleds, etc.)
- Cash (chequing and savings accounts)
- Investments (stocks, bonds, GICs)
- RRSPs
- Pensions (private and CPP)
- Life insurance (with a cash surrender value)
- Mortgages and LOCs
- Vehicles loans
- Credit Cards
- Debts to family, etc.
Matrimonial property also includes some things that people often consider their own personal property (ie. clothing, jewelry, household furnishings, tools, etc.), as well as livestock (horses, cattle) and pets. The division of this type of property can often be emotional and contentious.
What is not included in the division of matrimonial property?
While the general rule is 50/50, there are some things that are taken out of the calculation of matrimonial property (exemptions), including:
- inheritance;
- gifts (from other people, not the other spouse);
- damages / insurance proceeds paid to one spouse only (ie. money paid for a car accident, etc.);
- property (or the value of the property) brought into the marriage by each spouse.
However, the increase in value of this property since the time it was received by each spouse is usually split equally if it can be traced into other current property.
When can matrimonial property be divided?
Matrimonial property is usually divided at the same time as getting a divorce. However, spouses do not need to do both at the same time, and can commence a separate claim under the MPA just to divide their matrimonial property:
- within two (2) years of the date they separated;
- any time after filing a Statement of Claim for Divorce (until 6 months after a grant of probate or administration is issued for the estate of a deceased spouse – Baker v. Ramsdell (2017 ABCA 427);
- within two (2) years of the date the Divorce is granted.
Does the MPA only apply to married couples?
Currently, yes. The MPA only applies to married couples resident in Alberta and does not apply to “common law” relationships (although there is currently a discussion about extending property division rights to unmarried couples – see “Property Division: Living together before Marriage, Report for Discussion, Alberta Law Reform Institute, October 31, 2017). Unmarried couples must look to the common-law remedies of “constructive trust” and “unjust enrichment” to claim an interest in their partner’s property.
Does matrimonial property have to be divided by the MPA?
No. The MPA allows separating couples to ‘opt-out’ of the Act (ie. divide their property differently than as set out in the Act) by entering into a written agreement for the division of their current or future property. However, the written agreement must be signed before an Alberta-registered lawyer and each spouse must acknowledge they are:
- aware of what the Act does;
- aware of, and agree to give up, their possible claims to division of property under the Act;
- signing the agreement freely and voluntarily without any pressure from their spouse.
Do I need a Calgary Alberta Matrimonial Property Division Lawyer?
It is important to speak to a Calgary Matrimonial Property Division lawyer before signing such an agreement. Our skilled and experienced Calgary Alberta Matrimonial Property Division Lawyers can assist you in preparing and properly signing such an agreement to make sure your matrimonial property is divided fairly, equitably and permanently so that there is no disagreement with your ex-spouse about this property “down the road”. Give Peter Graburn a call now at 403-444-5503 to get a custom analysis of your matrimonial property division case.
