How is Family Law Equalization Calculated in Ontario?
In Ontario, one of the most complex parts of a divorce involves the division of property. Equalization payments are designed to allow spouses to keep their personal property and split joint financial assets evenly. While this may seem like a simple fifty-fifty proposition, family law equalization calculations, when not performed properly and legally, can leave one spouse at a significant...
How Can I Protect My Cottage During a Divorce?
The division of property during a divorce is a complex issue. While you’re potentially worried about where you are going to live, property used primarily for recreation like your cottage is also going to be important to your future happiness. Here are some tips for protecting your cottage when you’re in the process of getting a divorce: 1. Know Your Advantages According to the...
How is Property Divided Between Spouses?
One of the many tasks that you have to take care of when getting a divorce involves dividing all the property that the both of you have accumulated over the period of your marriage. There are various rules and regulations that make up the law regarding property division, most of which involve the recognition that both members of a matrimonial home contribute equally to the collective wealth...
Minority Discount
QUESTION – If I own a small interest in a property or business on the date of separation, do I get any discount from the value of my property when it is valued? ANSWER How the courts determine whether to allow a discount for a minority interest, or marketability restrictions, or both, and how much any discount should be, depends very much on the facts of each case. The courts have wide...
Property – Unequal Division of NFP
Are you entitled to an unequal division of net family properties because of the short duration of a marriage? The parties began living together in their jointly owned home in October, 2011; married in June, 2012; and separated in August, 2014. They were married for 25 or 26 months and cohabited for a total of about 34 months. Section 5(6)(e) of the Family Law Act provides for unequal division...