Typically, upon separation, married spouses have a half interest in all property accumulated by the parties from the date of marriage to the date of separation. The law equalizes the property of married spouses by calculating each spouses’ total net family property and the spouse with the greater net family property owes the other spouse half of the difference between their two net family property sums.
Generally, a spouse's net family property will be the total of his or her property minus debts and liabilities minus any third party gifts or inheritances. It is important to note that debts of a spouse include future contingent debts such as notional tax debts on R.R.S.P. assets and work pensions.
A spouse’s net family property may also be reduced by third party gifts or inherited property if certain conditions are met. We assist you in calculating your net family property in working toward a resolution in your matter.
We will provide you with legal advice and guidance tailored to your particular circumstances. We will answer all of your questions in our initial consultation. We will work with you every step of the way toward a final resolution of your matter.
To discuss your matter, please call 905-720-0777.
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