BC’s Family Law Act generally divides family property equally, but “family property” is rarely a simple category — pre-relationship assets, increases in value, pensions, and businesses often require valuation, and sometimes a court exception to the standard 50/50 split.
Family Property vs. Excluded Property
Under the Family Law Act, family property includes essentially everything either spouse owns at the date of separation — the family home, other real estate, bank accounts, investments, RRSPs and TFSAs, pensions accrued during the relationship, vehicles, and businesses — regardless of whose name it’s held in.
Excluded property such as exemplified in the below is treated differently and generally isn’t divided:
- Property either spouse owned before the relationship began
- Inheritances and gifts received by one spouse
- Court settlements or damage awards for injury or loss
The catch: any increase in value of excluded property during the relationship is still family property and is divisible. Excluded property can also lose its protected status if it’s commingled with family assets — for example, inheritance funds deposited into a joint account.
Why Valuation Matters
Family property is valued at fair market value, generally as of the date of trial or agreement — not what it cost when acquired. This makes valuation its own step in the process, particularly for:
- Pensions: Division depends on the proportion of pensionable service that occurred during the relationship, not the full pension value.
- Businesses: Even a business owned by only one spouse can have its value — or growth in value — treated as family property, often requiring a professional valuation.
- Real estate and investments: May need current appraisals rather than assumed or historical values.
When Equal Isn’t the Outcome
The default is a 50/50 split of net family property (after family debts are deducted), but section 95 of the Family Law Act allows a court to order an unequal division where equal division would be “significantly unfair” — considering factors like the length of the relationship, contributions to the property, or one spouse’s misuse of family assets.
Our Approach
Rather than treating property division as an afterthought to the divorce itself, we treat it as its own careful process — identifying what’s actually shareable, valuing what’s changed since the relationship began, and negotiating a division that’s fair, not just fast. We handle everything from straightforward asset splits to pensions and business valuations, always in compliance with the law, so nothing important gets overlooked, and no one carries more than their fair share.
The Gap Emerald Simple Divorce Fills
Property division is often rushed to keep a divorce moving quickly, which risks missing an exclusion, undervaluing a pension, or overlooking a business interest. We separate property division into its own step, so speed on the divorce itself never comes at the cost of an accurate division.
What’s Unique About Emerald Simple Divorce
- Property treated as its own process — not folded hastily into the broader divorce.
- Exclusions properly identified — pre-relationship assets, inheritances, and gifts are tracked and protected where the law allows.
- Complex assets handled directly — pensions and business interests are valued and divided correctly, not estimated.