Pursing Fair Arrangements For Property Division
When a married couple decides to divorce or separate, each spouse is entitled to equalize the net family property. Determining an accurate value as to property and how the value has changed during the course of the marriage is essential to obtaining a fair division. These matters can be quite complex.
At Nathens, Siegel LLP, we have navigated hundreds of property division cases for clients all across the Greater Toronto Area. We provide the expertise to help you exit the relationship in an optimal financial position.
What Is Family Property?
Family property, with few exceptions, is considered to be all property acquired by either spouse during the course of the marriage, and still existing at the date of separation. It is important to note that the division is based on the total value of the family property at the time of separation or divorce.
Family property encompasses a broad range of assets. It can include complex assets that are challenging to divide, including, among other things, privately held businesses, pensions, stocks and stock options. Our lawyers are experienced in navigating the division of all kinds of property.
The Equalization Payment
The equalization payment is used to ensure that each spouse receives an equal share of the net family property that has been accumulated during the marriage. Once all of the assets have been disclosed, the total net family property is calculated for each spouse. The spouse with the higher total value will be required to pay the other spouse half of the difference.
Seeking A Fair Property Settlement For Every Client
At Nathens, Siegel LLP, we diligently pursue every possible option in an effort to secure the best possible outcome for our clients. From determining an accurate value for each asset to resolving disputes over the date of marriage, deductions or excluded property, we work hard to obtain an order that provides the greatest benefit both to you and your children.
Our lawyers regularly navigate property division involving wide-ranging, complex and contemporary issues, such as:
- Matrimonial homes – including multiple properties
- Sizable financial advances between family members
- Business valuations
- Pension valuation and division
- Property division arrangements involving retired spouses
- Trust claims for common-law spouses
Discuss Your Case With Our Asset Division Lawyers
Contact our North York or Mississauga office to discuss your property division questions with one of our lawyers. Our initial consultations are offered at a reduced rate. You can reach us by phone at (416) 222-6980 ext. 2900 or via email to get started. We serve clients throughout the Greater Toronto Area, Ontario.