When you get a divorce in Ontario, you and your spouse must go through the process of equalizing your net family property (NFP) according to the Family Law Act. Net family property represents the difference between each spouse’s total assets and liabilities accumulated during the marriage, excluding certain exemptions. Assets considered in this calculation may …
Read MoreAlthough you and your partner are legally entitled to an equal share of the profits of your marriage when you separate or divorce, dividing assets is an intricate process. In Ontario, this division is referred to as the equalization of net family property and involves the assets and liabilities you and your partner have accumulated …
Read MoreWhen a couple decides to separate or divorce, in most cases, they are legally required to divide assets they accrued throughout their marriage by equalizing their net family properties. Determining the amount of assets included in your net family property will have a large impact on resulting equalization payments. However, there are certain assets an …
Read MoreWhen your relationship ends, it can be difficult to navigate your legal entitlements especially if a co-habitation agreement was not in place. Although common-law relationships are treated differently than marriages under Ontario law, property division is still a possibility. Although it’s not automatically guaranteed, there are legal steps a common-law partner can take to divide …
Read MoreThe Importance of Keeping Gifts and Inheritances Separate From Joint Assets When you and your partner decide to separate or divorce, the assets you accumulated throughout your marriage form your net family property and are be subject to equalization, with a few notable exceptions. However, assets deemed gifts or inheritances may be excluded from net …
Read MoreThe Family Law Act provides a framework for how assets and debt can get divided during a separation and/or divorce and is intended to make way for an equitable division of assets as well as providing financial security following the end of a relationship. This becomes especially important if there’s no marriage or cohabitation agreement …
Read MorePrivate pensions are a valuable component of retirement planning for many Canadians as they offer predictable income and financial security beyond the Canada Pension Plan CPP. In Ontario, private pensions hold significant value, making them complex assets to handle during divorce or separation proceedings. Here are some commonly asked questions from our clients during separation …
Read MoreNavigating a separation or divorce can be emotionally and mentally difficult for all involved. Dividing assets is challenging enough before you consider the added complexities related to digital assets. Technology has impacted all aspects of our life, including the way we accumulate wealth. Nowadays, when separating couples are tallying up their assets and the wealth …
Read MoreUndergoing a separation or divorce can impact all areas of your life. From your mental health to your family’s day-to-day activities, the process has the potential to cause a lot of stress. Emotions can get in the way, sometimes making these proceedings more difficult than one may have initially anticipated. Unfortunately, in some instances, spouses …
Read MoreAmong couples that undergo a divorce or separation, the division of property varies case to case. While some couples may decide on an equal 50/50 division of property, others may create a more customized structure that works best for their unique circumstances. When an agreement cannot be reached privately, separating or divorcing couples may proceed …
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