Division of Property: The Matrimonial Home For many people, the largest asset that they may ever own is their matrimonial home. It is meant to be a place of security and comfort where couples hope to rear and raise a family. So it is not surprising that the matrimonial home receives special attention during any …
Read MoreCommon Law and Property Equalization When a marriage is dissolved, each partner is entitled to share one half of the increase in value of their family property and must also share in the losses amassed while they were married. Any increase in the value of property owned by one spouse during the time the couple …
Read MoreHow is a matrimonial home defined? A matrimonial home has special treatment under Ontario law. Parties should be aware of the many ways in which a matrimonial home is treated differently from other assets, so that they can plan accordingly. Since only married spouses can have a matrimonial home at present, this information is only …
Read MoreIt is often heard that ‘home is where the heart is’. As a couple, you spend your time together building a home, building a life, and making memories that you hope will last forever. Divorce presents you with life changing circumstances, however, and all of a sudden your home that you have known for so …
Read MoreMost taxpayers are aware that where monies are taken out of a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF), tax must be paid on those withdrawals. However, our tax system provides for an exception to this rule in the case of a marriage breakdown. Where former spouses are no longer …
Read MoreOur tax system generally imposes tax consequences where property is transferred between persons related to one another (referred to in tax terminology as non-arm’s length parties) for any amount other than the fair market value of that property. However, different rules apply where property transfers take place as a result of marriage breakdown. Generally, there …
Read MoreReal estate, at least the buying and selling of it, is an emotional subject at the best of times. In my twenty-one years as a licensed Realtor® I’ve noticed that even those that don’t own (or have never owned) a piece of real estate, have strong opinions. Throw in a marriage or domestic partnership break …
Read MoreIt’s unfortunate, but it happens: one spouse takes advantage of the other during a divorce and drains the family’s financial resources by making selfish, and often unjustifiable, purchases. When this happens, your credit can suffer serious damage that’s not always easy to repair. The first step is to call your North York divorce lawyer as …
Read MoreDuring your divorce, you or your spouse—or both of you—will end up leaving your marital home. Your Mississauga divorce lawyer can help you determine whether you should offer to move or ask your soon-to-be ex-spouse to pack up and ship out. Based on the unique circumstances surrounding your case and applicable laws, your lawyer will …
Read MoreDuring your divorce, your North York divorce lawyer might advise you to keep a journal, hold on to receipts or file away bills, statements and other financial information. That’s because a paper trail—evidence of what has happened and when—can be an invaluable asset in putting together your case. Having an accurate picture of your everyday …
Read More
