Trying to separate out a lifetime of jointly-acquired assets is a daunting prospect. Joint bank accounts, intermingled funds, corporations that have benefited from the efforts of both, all took time to build and will take time to separate. Who gets the house? Who gets the car? If you are not the one getting the house or the car, how are you going to manage?
As we go through the issues surrounding property division we keep in mind a number of things. First, if there was a relationship agreement such as a pre-nuptial agreement, we look carefully at the terms to see if the agreement would likely be upheld by the courts and whether it provides answers to some of the questions we come up against in the area of property division.
Second, we have to remind ourselves that not everything always goes into the communal pot to be split 50-50 upon dissolution of the relationship. If there are “exemptions” like inheritances or assets that one party acquired before entering into the relationship, extra care has to be taken to see how those particular assets should be treated. Property division also often results in tax consequences down the road which parties may not initially have contemplated.
These can be tough issues to sort out, and so having a cool head in your corner is essential. This is an area where we find experts in valuations, mortgages and accounting can be irreplaceable. Whether your case is a simple one where you and your partner have worked out just about everything or whether it is a case where there is no consensus on practically anything, the lawyers at Gunn Law Group will do what it takes to find creative solutions that help you start leading your life as a newly single person.
Gunn Law Group's experienced legal team are here to help with your legal needs.