CALGARY FAMILY AND DIVORCE LAWYERS
Our Calgary divorce lawyers have assisted clients throughout Alberta with their family law and divorce matters and are particularly useful in situations where a divorce intersects with business. A frequent example of this may be a family corporation, in which the spouses have put work and financial capital into the development of a business, whose assets they must now divide. Our Calgary family lawyers understand complex financial situations, and focus on helping our clients resolve these matters as effectively as possible. Whether your divorce is uncontested, meaning both parties agree to the terms, or contested, meaning one or both parties object to the separation’s terms, the legal support from our Calgary divorce lawyers may help ensure your rights and interests are protected.
Understanding the sensitivities involved with emotionally-charged family and business decisions, our Calgary family lawyers recognize the complex and unique nature of each case, and provide legal advice to best suit your situation.
Family Corporations and Divorce
The dissolution of a marriage or long term relationship is rarely a simple matter: full of high-stakes negotiations, financial concerns, and emotions running high, it is a time when the support of a Calgary divorce lawyer may be pivotal. When a business is involved, complexities redouble.
When spouses have built a business together, contributing energy, time, and resources, the dissolution of the partnership at the core of their business can be devastating. There may be contention as to who will move forward with ownership of the business, and how shareholdings may be valued and divided.
It is not uncommon that, within a contested divorce that involves a family business, there may be tension surrounding the definition of roles and the quality of business operations. When you work with a Carscallen LLP Calgary divorce lawyer, we may engage professional support from a chartered business valuator to provide expert analysis on the value of your business.
We will likewise consult on and clarify your questions concerning tax law implications, from spousal rollover and attribution to TOSI rules and capital gains exemptions. Working with a Calgary family lawyer at Carscallen LLP, you will receive professional support tailored to your situation.
When Only One Spouse Owns the Business
A business that was acquired during the marriage may fall under the purview of assets that are shareable between spouses. This means that if only one spouse owns the business, the other spouse may have grounds to claim a share if they have contributed to the business’s growth in indirect ways.
An example of indirect contribution may be if one spouse sacrificed their own career advancement and became a stay-at-home parent, taking on the work of caring for the children and family home, affording the other spouse time and energy to cultivate the business. The spouse who does not own the business may, in this situation, be awarded compensation for the contributions they have made to the other spouse’s business.
How a Calgary Divorce Lawyer Can Help
Bringing business law expertise to divorce and other matrimonial and domestic issues, our Calgary family lawyers provide support from beginning to end.
Our expertise includes but is not limited to:
- Property division
- Spousal, partner and child support
- Uncontested child custody and access
- Divorce judgments
- Adult interdependent relationships
- Business valuations and divisions
- Family corporations
- Pension and CPP issues
- Stock options
- Family trusts
- Tax issues
- Cohabitation, pre-nuptial and post-nuptial agreements
- Spinouts and divestitures of matrimonial property
- Court related matters
- Family law agreements
- Child custody issues
- Family benefits
- Abuse and toxic exes
- Alternative dispute resolution and mediation
- Collaborative family law
- Inheritance protection
- Most other family law and divorce matters
We Are Here To Assist You In All Your Family Law Matters
Going through a divorce is often an emotional process, and decisions made in the process may have complex implications on the lives of the separating spouses, their children, and relatives alike. When a divorce or separation involves a business, the livelihoods of workers and assets of shareholders may also be impacted. To discuss your options, including how our legal team might be able to help you, contact us today and schedule a consultation.
*This update is intended for general information only on the subject matter and is not to be taken as legal advice.*This update is intended for general information only on the subject matter and is not to be taken as legal advice.