Splitting the Assets – Negotiating the Marital Home
A recent article in “The Globe and Mail” reminded me of a case that I engaged in as a Financial Neutral during this past year.
The divorcing couple hired me to help them split their assets “amicably.” This couple saw themselves on the path to divorce but did not want to engage with any third-party professionals, especially those who identity as lawyers. It was their opinion, because they were going ahead with an uncontested divorce, that they did not need to hire any lawyers.
My job as a Chartered Financial Divorce Specialist, is not to give legal advice, as I am not a lawyer. My leading role as a Financial Neutral is to help organize the divorcing couple’s assets and liabilities in such a way that helps them move on with life. I can also provide guidance as to how to calculate both Child and Spousal Support.
In this case, I was engaged to only help them with splitting the assets. Both the man and woman were excellent in providing the necessary statements and documents. The main point that the couple had difficulty with was who was going keep the house?
The challenge for me, as a Financial Neutral, was to show how each person’s budget was the determining factor for making that decision. The lady, in this circumstance had the higher income and the man had more financial assets due to prior investments and the recent sale of his business. The house was quite nice but needed some love to bring it up to date and modern. Property taxes in their community had increased quite substantially, as were all the utility costs. These practical considerations were also complicated by the deterioration of the neighborhood because of the number of homeless people infiltrating the homes in the downtown core. At the same time, new home prices in the recently built developments were very pricey. Another factor creating uncertainty was the recent British Columbia court ruling that brought property rights into question.
In short, the fixed and variable costs of everyday living was more complicated due to societal issues that were not a part of the couple’s living considerations only 2 years earlier.
In many divorce considerations, it is common for the female to want to keep the marital home. A challenge that often arises is the upkeep of the property. It is not role of the Financial Neutral to express an opinion as to whether one person does one thing or another. My job is to show how their financial budget can help them live in the way they choose.
My goal as the Financial Neutral is to help both parties understand the choices they make when they are dividing their property. No one can see what the future will bring, but reasonable people can make rationale decisions that are dependable for many years. The value of something can have great sentimental value today but may not hold its financial value as time goes by. Practical considerations such as keeping up with home maintenance has an impact on what you can control. Government actions and legislation changes are beyond your control. When making these decisions, try to be as pragmatic as possible. Your financial future is more dependent on reason than sentiment.
I have included the link to the article in “The Globe and Mail” from May 21, 2026, which I referenced at the beginning of this blog. If you are a subscriber to “The Globe and Mail, you are in luck. If you are not, and want to read it, you will have to become a subscriber.
