Money

The law views marriage as an economic partnership, therefore each spouse is entitled to equal share of the total dollar value of the family property when the marriage ends. Family property includes assets and/or debts associated with:
1. The family home or rental properties
2. Summer cottages
4. Boats or ATV’s
5. Cars, trucks, campers
6. Assets such as saving accounts, owned businesses, shares in publicly traded companies, etc.
7. Debts such as mortgages, credit cards, loans, car or home leases etc.

 

Calculation the Net Family Property
In order for ascertain your family’s net property value, you and your spouse must provide timely financial disclosure. Depending on the complexity of your financial situation, it may be necessary to engage financial professionals to assist in this process, especially where there are exclusions such as inheritances, gifts, life insurance, etc.

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Other factors that must be considered when calculating the Net Family Property include:
1. Child Support
2. Spousal Support
3. Complex business valuation calculations

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If you are involved in divorce proceedings and need assistance calculating Net Family Property, call 1-888-341-5889 right now and speak directly to a Law Society of Ontario licensed lawyer who can recommend the most appropriate legal method for your unique Net Family Property calculation and advise you on the benefits and risks of competing solutions in your particular situation. The initial consultation is always FREE!

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