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Divorce can be one of the most challenging life events, both emotionally and financially. Among the many complexities that arise during a divorce, the division of retirement assets often becomes a focal point of concern. Retirement funds, typically accumulated over decades, are a significant part of a couple’s financial security. Navigating the division of these assets requires careful planning,...

One of the most prevalent cases family lawyers must deal with is child custody cases. In the midst of divorce, child custody is often one of the most contentious agreements that must be dealt with, and it can often have impacts on asset division, too. Understanding the legal framework around custody with the support of an experienced family and civil litigation lawyer can help ensure you protect...

Navigating divorce settlements can be highly complex, especially for individuals who do not have any type of prenuptial or postnuptial agreements in place. The intricacy of the division of assets only increases when infidelity is a factor as well. When a partner has had an affair, it can create hostility in the divorce proceedings, especially if the divorce is a direct result of such behaviour.

The equalization payment is designed to balance out any financial discrepancies in a marriage. While this is the case for most property during a divorce in Ontario, there are some types of assets which are not calculated when determining the net worth of each spouse. If you have some property types that are excluded, it’s a good idea to book a legal consultation with a family lawyer who is also...

When the higher value party is determined via the Net Family Property calculation, they will often be required to pay the difference in value to the other spouse, evenly dividing the value gained through the course of the marriage. The amount that must be paid is known as the "equalization payment." The rationale behind this is to ensure that both parties share in the financial gains made during...

When you’re in a common law relationship that is coming to an end, and you’re concerned about the division of assets, contact the family lawyers and civil lawyers in Toronto and Ontario and Karrass Law. Common law division of assets follows different legal requirements than a legal marriage, so if you and your partner are having disputes or disagreements about asset division, contact our team...

When you are splitting up with a spouse, much of the conversation around the divorce is centred around how financial assets are split. Marital properties, income, investments, businesses and more all need to be divided fairly in alignment with Ontario law. Another factor that should be considered in regard to the complex division of assets is debts.

Beyond the emotional heaviness of the situation and the social implications, divorce can be particularly challenging financially for spouses navigating the division of complex assets in Ontario. In most cases, assets are split evenly in the event of a divorce in Ontario. Still, there are certain situations where business partners, family members, or co-signers—might have legitimate claims that...

When it comes to divorce or separation, understanding the timelines and processes involved in the division of assets is crucial. When filing claims for equalization in the midst of a separation divorce, the already stressful and emotionally charged situation can become incredibly complex, especially when hidden assets, matrimonial homes, and other complicated financial elements are factored into...

In Ontario, the division of assets for married spouses is governed by the Family Law Act. The goal is to ensure a fair distribution of property acquired during the marriage. The process involves calculating each spouse's Net Family Property (NFP), which is the spouse with the higher NFP typically paying an equalization payment to the other spouse, ensuring both leave the marriage with an equitable...