How Do I Get Out of Sharing My Assets?

Married spouses and unmarried spouses

Married spouses and unmarried couples who have lived together for at least two years are presumed to have a one-half interest in all property either or both of them acquired after the date the couple married or began to live together, whichever came first. Certain property is excluded from the family property the spouses are expected to divide, including:

• the value of the property owned by each spouse on the date the couple married or began to live together, whichever came first,
• property bought with the property owned by each spouse on the date the couple married or began to live together,
• inheritances and gifts received during the relationship,
• court awards and insurance proceeds received during the relationship, and
• trusts to which the spouse did not contribute and does not control.

If you want to do better than this, you'll have to sign a marriage agreement or a cohabitation agreement at some point before or shortly after you marry or begin to live together.

If you don't want to spend the money getting an agreement drawn up, here are some other things that can help:

• When you begin to live together, take copies of the statements from all of your bank, investment, retirement, credit and loan accounts, copies of your BC Assessments for all real property, staple them together and put them in a safety deposit box. This will help you to establish the value of the property you brought into the relationship.
• During your relationship, keep a careful record of what you buy with the property you brought into the relationship.
• During your relationship, keep records of the dates and values of any inheritances, gifts, insurance proceeds or court award that you receive.
• Keep an eye on the debts your spouse incurs during the relationship.

A lot more information about how married spouses and unmarried spouses divide property can be found in the pages on Dividing Property & Debt.

Unmarried couples who aren't spouses

For unmarried couples who don't qualify as spouses, the only property that is presumed to be shared is property that is jointly owned. Even if one person contributed virtually nothing to the purchase or upkeep of an asset, the simple fact that his or her name is on the title of the property or on the owner's registration means that he or she is presumed to have an ownership interest in the property. The property might not be shared equally between the parties, but in most cases each partner will get something.

There are no such presumptions about property that only one person owns. When one partner wants to make a claim to share in an asset owned only by the other partner, the claim must be brought under the law of trusts and the law of equity. These are difficult claims to make, and almost always results in an award that is far less than the what the person would get if the couple had been spouses.

If you want to try to protect property from a claim brought by your partner, here are the best ways to do it:

• Make sure that you only buy things in your own name, and that when you buy something your partner doesn't contribute to the purchase price, or to paying any loans or mortgages associated with that property.
• Keep separate bank accounts and avoid joint purchases whenever possible.
• Make sure your partner maintains his or her financial situation independently of you and doesn't drop out of the workforce to become a homemaker or stay at home parent.
• Pay your partner for any work he or she does for you, like renovating a room or working in your business.

More information about how unmarried couples divide property can be found in the pages on Property & Debt.

This information applies to British Columbia, Canada. Last reviewed for legal accuracy by JP Boyd, March 24, 2013.

JP Boyd on Family Law © John-Paul Boyd and Courthouse Libraries BC is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 2.5 Canada Licence.

Normally referred to as the "Supreme Court of British Columbia," this court hears most of the trials in this province. The Supreme Court is a court of inherent jurisdiction and has no limits on the sorts of claims it can hear or on the sorts of orders it can make. Decisions of the Provincial Court are appealed to the Supreme Court; decisions of the Supreme Court are appealed to the Court of Appeal. See "Court of Appeal," "jurisdiction," "Provincial Court" and "Supreme Court of Canada."

A court established and staffed by the provincial government, which includes Small Claims Court, Youth Court, and Family Court. The Provincial Court is the lowest level of court in British Columbia and is restricted in the sorts of matters it can deal with. It is, however, the most accessible of the two trial courts and no fees are charged to begin or defend a family law proceeding. The Family Court of the Provincial Court cannot deal with the division of family property or any claims under the Divorce Act. See "Divorce Act," "judge" and "jurisdiction."

Something which can be owned. See "chattels" and "real property."

A term under the Family Law Act referring to property acquired by either or both spouses during their relationship, as well as after separation if bought with family property. Both spouses are presumed to be entitled to share equally in any family property. See "excluded property."

Under the Divorce Act, either of two people who are married to one another, whether of the same or opposite genders. Under the Family Law Act, spouse includes married spouses, unmarried parties who have lived together in a marriage-like relationship for at least two years, and, for all purposes of the act other than the division of property or debt, unmarried parties who have lived together for less than two years and have had a child together. See "marriage" and "marriage-like relationship."

An agreement signed by people who are planning on marrying or who have married that is intended to govern their rights and obligations in the event of the breakdown of their marriage and, sometimes, their rights and obligations during their marriage. See "family law agreement."

An agreement signed by people who are or have begun to live together in a marriage-like relationship that is intended to govern their rights and obligations in the event of the breakdown of their relationship and, sometimes, their rights and obligations during their relationship. See "family law agreement."

A parcel of land including any buildings on that land. See "chattel," "ownership" and "possession."

A mandatory direction of an arbitrator, binding and enforceable upon the parties to an arbitration proceeding, made following the hearing of the arbitration trial proceeding or the parties' settlement, following which the only recourse open to a dissatisfied party is to challenge or appeal the award in court. See "appeal," "arbitration," and "family law arbitrator."

In law, a document demonstrating ownership of a thing. See "ownership."

A legal right to have and use a thing that is enforceable in court. See "possession."

(1) The assertion of a legal right to an order or to a thing; (2) the remedy or relief sought by a party to a court proceeding.

In family law, the natural or adoptive father or mother of a child; may also include stepparents, depending on the circumstances and the applicable legislation; may include the donors of eggs or sperm and surrogate mothers, depending on the circumstances and the terms of any assisted reproduction agreement. See "adoptive parent," "assisted reproduction," "natural parent" and "stepparent."