“I highly recommend Violeta for anyone dealing with family law matters. From the very beginning, they were professional, compassionate, and incredibly knowledgeable. She took the time to explain every step of the process clearly and made sure I understood my options.”
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
– Brad C.
For many Calgary business owners, the company is both the family’s largest asset and the source of its income. When a marriage or relationship ends, the question is not only what the business is worth, but how to divide that value without damaging the business itself.
A separation involving a corporation touches family law, corporate law and tax at the same time. The way shares are valued, how income is measured for support, and how a settlement is paid out can make a difference of hundreds of thousands of dollars.
We regularly act for business owners, professionals and executives. We work alongside your accountant and, where needed, independent business valuators, so that the family law solution also makes sense for your company and your taxes.
This page is general information about Alberta law. Corporate and tax issues are highly fact-specific, so please get advice about your own situation.
Under Alberta’s Family Property Act, shares or a business acquired during the relationship are generally family property. If you owned the business before the relationship, its value at that time may be exempt, but any increase in value during the relationship is generally shared. Holding companies, family trusts and professional corporations each add their own questions about who owns what.
Most private companies do not have an obvious market price, so an independent business valuator is often needed. Common questions include:
A careful valuation is often the single most important step in a business owner’s separation.
The same dollars can sometimes show up twice: once in the value of the business for property division, and again as income for child or spousal support. Retained earnings are a common example. Identifying and addressing this overlap is important for a fair result.
If you control a corporation, your personal tax return may not tell the whole story. Under the Child Support Guidelines, a court can attribute some or all of a corporation’s pre-tax income to the person who controls it, and it can examine salaries paid to family members, unusual expenses and retained earnings. The same analysis often informs spousal support. We help you present a clear, well-documented picture of what the business can reasonably pay out while still operating properly.
Dividing the value of a business rarely means giving your former partner half of the company. Common approaches include:
The right approach depends on your company’s structure, cash flow, lenders, partners and tax position.
Many family businesses have a spouse on the share register for tax planning, as a director, or on payroll. After separation, these roles need to be dealt with carefully. Removing a spouse from a role, changing dividends or cutting pay without a plan can create legal risk. Shareholder agreements and corporate law rights also come into play.
Physicians, dentists, lawyers, accountants, engineers and other professionals often practise through a professional corporation. Rules about who can own shares, and the fact that much of the value may be personal to the professional, affect both valuation and how the value can be divided.
A parent who controls a corporation is generally required to provide the corporation’s financial statements for recent years and details of salaries and benefits paid to related people, in addition to personal tax information. Organized, complete disclosure reduces conflict and cost. Our Business Owner’s Divorce Checklist is a good place to start.
A practical two-page checklist of the documents to gather and the questions to ask before you meet with a family lawyer, covering corporate records, exempt property, executive compensation and more.
Enter your name and email to download it now.
We will only use your information to send you this checklist and respond to your inquiry. Downloading the checklist does not create a lawyer-client relationship.
We use retainers and hourly billing—but we explain everything in advance, and work efficiently so you're only paying for real progress.
We prioritize practical solutions that protect your time, your finances, and your family.
In-person, phone, and video appointments available to meet your needs wherever you are.
We walk you through every step with transparency so you’re never left wondering what’s next
You're never left wondering. We return calls and emails promptly, and keep you updated so you always know what's happening in your case.
For Life’s Big Moments.
At Bellagio Law, we know that behind every legal file is a real person navigating a big moment: ending a relationship, protecting a child, or planning for the future. That’s why we’re committed to delivering clear, practical, and compassionate legal support, one client at a time.
We’re a boutique Calgary law firm focused on family law, with services in wills and estates and civil litigation. With a strong focus on personalized service, we guide our clients through complex legal processes with clarity, responsiveness, and care.
Whether you’re facing a difficult transition or celebrating a new beginning — we’re here for life’s big moments.
Small firm. Big impact.
Direct access to your lawyer — no layers to get through.
We respect your time — clear fees, quick turnarounds, honest advice.
We keep things simple, so you can focus on what matters most.
Usually not. In most cases the value of the business is shared, not the ownership. The value can be balanced with other assets, a payment, or payments over time.
Its value when the relationship began may be exempt, but growth during the relationship is generally shared. You will need evidence of the starting value, and a valuation is often required.
Often, yes, especially if the business is a significant asset or its value is disputed. Sometimes both parties agree to use a single, jointly retained valuator to control cost.
It is a tax-planning technique that, in some circumstances, allows the assets of a corporation to be divided between two new corporations on a tax-deferred basis. It is complex, requires tax advisors and is not right for every business.
Yes. Where you control a corporation, the court can attribute some or all of its pre-tax income to you for support purposes, taking into account the legitimate needs of the business.
Get advice before making any changes. Their shareholding, any shareholder agreement and corporate law rights all need to be addressed as part of the overall settlement.
You built your business over years. Decisions made in the next few months can affect it for years more.
Call 587-329-0999 or fill out the form below to book a confidential consultation with our Calgary family law team.
I highly recommend Violeta for anyone dealing with family law matters. From the very beginning, they were professional, compassionate, and incredibly knowledgeable. She took the time to explain every step of the process clearly and made sure I understood my options.
⭐️ ⭐️ ⭐️ ⭐️ ⭐️
– Brad C.
