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The Problem with Valuing BC Discretionary Trusts

The Best Penticton Family Lawyers focus on helping medium to high net worth Penticton business owners, professionals, and their spouses who supported them through their careers at home raising the children, achieve a fair resolution of important family financial and child parenting issues. The Best Penticton Family Lawyers know every divorce is a big divorce because that spouse’s family, financial security, and future hang in the balance. Contact our Penticton and West Kelowna office promptly so you know your rights and obligations.

Our Kelowna and Penticton family lawyer team is led by senior family lawyer Lorne MacLean, KC backed by passionate associate lawyers Fraser MacLean and Jesse Emmond. They can be reached at 778 754 1542.

Best Penticton Family Lawyers
(left to right) Lorne MacLean, KC, Keith Bracken, Jesse Emmond and Fraser MacLean

Best Penticton Family Lawyers 778 754 1542

Penticton divorce and common law separations are stressful. The focus of the Best Penticton Family Lawyers is to get spouses and their children successfully through the family law system with a minimum of emotional and financial damage. So how do the Best Penticton Family Lawyers do that? In a nutshell, the Best Penticton Family Lawyers do the following:

  • meet with you to listen to the facts of your family law situation and provide objective advice that may challenge errors in analysis;
  • help you negotiate and craft fair prenups and marriage agreements;
  • help you come up with child-focused solutions to promote your children’s best interests;
  • obtain financial information and a child parenting history to help you get a fair settlement;
  • warn you that child and spousal support matters are complex and looking at free calculators often leads to disastrous results for medium to high net with families when one of the spouses owns a company, a professional practice, real estate ventures, and wineries.
  • help you properly value the home, businesses, pensions, ventures, and family debts
  • help you negotiate a fair parenting arrangement and property division settlement by agreement or mediation
  • litigate in the court the matters that cannot be resolved after best efforts.

What are the biggest mistakes the Best Penticton Family Lawyers see in medium to high net with separations?

  • # 1 Spouses that rush to settle without using lawyers to save a few thousand dollars of legal fees BUT instead lose hundreds of thousands or even millions of lost property division compensation or spousal and child support payments.
  • # 2 spouses dealing with business owners who fail to look at financial statements for pretax profits, shareholder loans, Capital Dividend accounts, shareholder loan accounts, and RDTOH accounts.
  • # 3 spouses who negotiate marriage or separation agreements that fail to get proper business and other asset valuations and use “unknown” for the value making the agreement suspect to challenges leaving the agreement subject to attack or being set aside;
  • # 4 spouses who give up equal parenting time to try to appease their high conflict spouse only to have their children suffer from being deprived of maximum contact with both parents;
  •  # 5 spouses who pay too much support or waive claims for support because of guilt or pride and then are left in financial penury as a result;
  •  # 6 the above mistakes are just a few that can await the unwary so ask us about other potential pitfalls you need to avoid that apply to your particular case.

Read more general family law information at Legal Aid BC.

Lorne MacLean, QC handles high net worth Okanagan claims
Lorne MacLean QC handles Okanagan high net worth cases and was just named top 25 most influential Canadian lawyers

Call our Okanagan family team today at 778 754 1542.