Our Offices

Toronto and Hamilton

In Toronto, Ontario
20 Eglinton Avenue W, Suite. 2202
Toronto, Ontario
Canada M4R 1K8
Phone: 416-222-4555

In Hamilton, Ontario
20 Hughson St. South
Suite 406
Hamilton, Ontario
L8N 2A1
Phone: 1-905-662-6000

Family Property Division

Division of Marital Assets

In the eyes of the Law, a marriage is an equal partnership. However when the marriage ends, the partnership is over and property has to be divided. To recognize the equal contribution of each person, the general rule is that the value of any property that you acquired during your marriage and that you still have when you separate must be divided 50/50.

The division of family property in a divorce can be a very complicated matter, depending on the assets and debts of each partner at the time of marriage and the time of legal separation, and a number of other factors.

How a Divorce Lawyer Can Help With Family Property Division

We can help you settle your family property disputes. Part of your divorce lawyer's job is to determine and get agreement from your partner's lawyer about the "net family property value" each spouse holds at the time of legal separation. The date of separation is very important in these calculations, and can itself be a matter in dispute.

There are also certain assets that are excluded from the calculation of net family property, and other assets that may not be obvious to you that should be included in the calculations. Determining the value of certain types of assets, such as pensions, also requires a very specific financial expertise, and family law lawyers will have connections with financial experts to help in family property division cases.

All of this points to how important it is that you get independent legal advice from an experienced, effective family law lawyer when dealing with family property division.

This recommendation for independent legal advice about the financial issues involved in your divorce needs to be emphasized more and more as the Canadian and global economy fluctuates.

Family Property Division in a Recession

The current economic situation is having long-term impacts on divorce and family law in Canada. In a relatively short period of time, many property division settlements that seemed fair at the time they were negotiated have been totally tipped in the scales by contortions in property values – leaving spouses who opted for property over cash in their settlements at huge losses relative to their spouses, less than a year later in some cases.

In times of a recession, issues of family property division or support payment settlements are even more crucial. And if you are just considering separation or divorce, it is important that you have a family law lawyer who is well-grounded in all of the social, legal and economic developments that may be influencing your case specifically or divorce and family law in general.

Niren Family Law Practice Divorce and Family Lawyers are well-informed and up-to-date on new developments and ongoing court cases in family property division, spousal and child support and other divorce matters. Call or email Niren Family Law Practice for an initial consultation.