How to Calculate Net Family Property in Ontario
For the purposes of providing divorced persons with equal assets, the courts may need the parties to calculate net family property in Ontario. The net family property (NFP) is the amount of each spouse’s assets minus that person’s liabilities and debts. By calculating this amount, the judge can then accurately award the lower income spouse with an amount of property or assets that...
The Ontario Divorce Property Settlement Process
From a couple’s decision to separate and divorce to an Ontario court’s issuance of a divorce decree, the most critical step for the couple is putting together a mutually acceptable separation agreement that covers all aspects of dissolving the marriage, including a divorce property settlement, custody of children, visitation rights, child support and spousal support. In terms of...Podcast: How Assets are Divided in a Divorce in Ontario
http://zml-s3.zoomerradio.s3.amazonaws.com/podcasts/goldhawk/2013-09-30-2-goldhawk-podcast.mp3Podcast: Play in new window | DownloadSubscribe: RSSIn this transcribed interview with Dale Goldhawk of Zoomer Radio AM740 in Toronto, family and Toronto divorce lawyer Lorne Fine of Fine & Associates Professional Corporation offers advice on how assets are divided in a divorce in Ontario. Read...How Is A Business Valued In A Divorce?
A business is an asset that must be valued in order to determine a party’s net family property. A business will be valued based on the “fair market value” of the business. The buyer and the seller are assumed to be hypothetical and the transaction is assumed to take place under normal conditions. The determination of “fair market value” of a business is...Property Division and Bankruptcy
The recent Supreme Court of Canada decision of Schreyer v. Schreyer has confirmed that when it comes to the division of a former Husband and Wife’s property, the relationship between the spouses is only a “debtor-creditor relationship”. (more…)
Marriage Contracts and the Matrimonial Home
Prenuptial Agreements or Marriage Contracts are not just for the rich. Marriage is a partnership. Anyone entering into a partnership should understand the terms of that relationship and protect their rights with due diligence. That means most people, especially those individuals bringing assets into the marriage, should take the time to draft a Prenuptial Agreement or Marriage Contract....Marriage Contract In Ontario
An experienced Family Law Lawyer can help you draft a Prenuptial Agreement that protects your legal rights and financial assets as well as help you and your spouse-to-be in order to avoid or resolve financial disputes before saying “I Do.” (more…)
Property Division: Dividing Matrimonial Household Contents
It is frequently necessary to divide the contents of the Matrimonial Home. You do not want to pay a divorce lawyer to argue over contents, the cost will likely exceed the amount at issue. As a result, there are several methods one can use in amicably dividing the contents of the Matrimonial Home, namely as follows: (more…)How to Prepare for your Separation/Divorce
In some of our cases, the parties separation has been “brewing” for quite some time. One or both parties may think about separating from their spouse, but they do not approach a lawyer. He/she may be preparing emotionally and financially to separate from his/her spouse. In other cases, a spouse may be surprised to learn that his/her spouse wants to separate. It comes as a...
by Fine & Associates Common Law Spouses, Divorce, Marriage, Property Division, Spousal SupportOctober 5, 2011