Divorce is a serious legal issue. If you’ve been served with divorce papers or know that it’s time to dissolve your marriage, then you need a divorce lawyer.
The settlement you end up with today has the potential to have an impact on your finances and future prospects for decades to come. In many cases, it will also have a profound impact on your relationship with your children, if you have them.
The attorneys at Merchant Law are prepared to help you navigate this difficult and emotional process.
What is reasonable to ask for in a divorce settlement?
In simplistic terms, both spouses are entitled to one equal half of the marital property.
If it were as easy as adding up the number of assets and writing each spouse a check, most divorces would be over quickly.
Yet nothing is that simple. Most assets don’t divide that easily. What happens when one of you owns a business, or multiple pieces of real estate? Who keeps the family home? What happens when one of you makes a lot more money than the other? What about retirement accounts, which can be devalued when money is removed from them too soon?
The reality is, it takes a lot of negotiation, and, sometimes, creative legal solutions to create an equitable divorce settlement.
Still, it’s very important to have reasonable expectations as you go into the process. Neither spouse gets to walk away with everything. If you’ve been married a long time and there’s a significant difference between your incomes then one of you will probably pay some spousal support. If there are minor children involved, child support is mandated by law.
Your attorney can help predict the best and worst case if you end up going to divorce court. A properly executed settlement will usually fall between those two extremes.
Can my wife or husband take everything in the divorce?
No, though sometimes when emotions get high it may feel that way.
One of your greatest challenges during your divorce will be to keep a clear head so you can make the best decisions possible when your attorney presents you with options.
The calmer you stay, the better the outcome is likely to be.
How do I prepare for a divorce in Alberta?
Gather as many documents as possible prior to your divorce. You’ll want to give your attorney the clearest picture of your assets and debts as you possibly can. This includes every bank statement, pay stub, dividends statement, title deed, tax return, or debt statement that you have.
It’s a good idea to gather all this information the moment you know you’re going to get divorced. Some spouses try to restrict access to this documentation, hide it, or alter it when the divorce begins.
Why Merchant Law?
Our divorce lawyers have many decades of experience helping high net worth couples, ranch couples, farm couples, and other couples navigate the complicated divorce process. We have backgrounds in other areas of the law, such as civil litigation, real estate law, and business law, all of which helps us come up with solid solutions to the unique legal problems presented by the typical divorce case.
Call (780) 474-7777 to connect with one of the attorneys in our Beaumont office. We serve the entire province, and we’re ready to help.