Most separations in Edmonton start with a conversation about who keeps the house, the vehicles, the furniture. Debt tends to come up almost as an afterthought — often with the assumption that whoever's name is on the account is the one who owes the money, and that's the end of it.
A home owned before marriage is one of the most misunderstood assets in an Alberta separation. The person who owned it first may assume the home is fully theirs. The other spouse may assume the whole property is divided equally because it became the family home.
Alberta's Family Property Act sets the framework for dividing property when a marriage or adult interdependent relationship ends.
Most people going through a separation in Edmonton can picture how the house gets sorted out. Far fewer feel confident about the assets that often matter more: a workplace pension built up over many years, an RRSP that has been growing quietly in the background, or a private company or professional practice one spouse built from nothing.
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