In a divorce, or when contemplating divorce, people may only consider the emotional and financial benefits such as:
- What is best for the children involved?
- How assets, or wealth, will be distributed?
What is often overlooked is the division of existing marital debt. In difficult economic times this is an incredibly crucial aspect to consider in the arrangements of a divorce in Alberta. If you are contemplating divorce, or have been served divorce papers, you should speak with one of our experienced Edmonton divorce lawyers immediately.
If you are contemplating the divorce process in Alberta, you need to give strong consideration to your shared debt regardless of your legal relationship:
- same sex union
- male-female marriage
- domestic partnership
Divorces and Division of Debt
Retirement plans, cash, equity in homes and marital debt are all divided in an Alberta divorce. Despite any financial stability you may have enjoyed as a couple, that may not translate once divorced. Outside factors such as loss of job, reduced hours at work or outstanding medical bills may also impact the division of debt, property and assets in a
divorce in Alberta.
Despite a divorce being messy and uncomfortable it is very important to remember that you do have rights that need to be protected. Working with an Edmonton marital debt lawyer will ensure your rights are protected throughout the entire divorce process. This will offer you peace of mind so that you can focus on moving on ahead.
Contact the Edmonton family lawyers at Coley Hennessy Cassis Ewasko to discuss your rights, interests, and how to protect them. Our firm has been established in the Edmonton area as a trusted and friendly practice looking to provide consultation for the division of debt, as a result of divorce. Call us today and start the process.