Family property sometimes called family assets is everything that you or your spouse own separately or together on the date you separate. It does not matter whose name the family property is in. Vancouver and BC Family property is presumed to be shared equally between the spouses, regardless of their use of or contribution to that property, and subject to excluded property, discussed below.

We have extensive experience in complex property debt division and will help you navigate the categories of family property.

Family property and family assets includes the following:

• The family home;
• RRSPs;
• Investments;
• Bank accounts;
• Insurance policies;
• Pensions;
• An interest in a business;
• The amount of any increase in the value of excluded property since the relationship started.

Just as spouses accumulate assets during the marriage, they may also accumulate debt. Section 86 of the Family Law Act describes family debt to include all financial obligations incurred by a spouse, during the period from when the relationship began, to when the spouses separate, and after the date of separation if incurred for the purposes of maintaining family property.