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Money in business accounts

Posted in British Columbia, Location, Property, Vancouver by Questions on April 10, 2016

Most of our money is in two accounts that were created to receive income from my husband’s consulting. He owns these companies, one being Canadian, the other in the UK. I am one of two directors in these two companies. No one else is involved. He transfers money periodically for household expenses by “paying dividends. I do not work, but am in school to gain a degree for teaching. I will be finished in August.
Will I be awarded 1/2 of the monies in these accounts if we were to separate?
Or are they locked away from me since the legal belong to the companies?
Thank you.

1 Expert Comment

  1. On April 11, 2016 at 8:39 am
    Stuart Zukerman said:

    Generally, pre-marital assets will be excluded from division and awarded to the party who owned them on the date before marriage or cohabitation; however, growth in those assets from the date of marriage or cohabitation onward is presumptively to be divided 50/50. If the company was created during the marriage then you are entitled to half of the fair market value of the company regardless of whether you are a director or officer of the company.

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