Tag Archives: equalization of property

Unfair divorce settlement could affect seniors well into retirement

In one of our posts from March, we discussed the upward trend of divorce among baby boomers and how separating seniors may have complex property division concerns. Dividing matrimonial property may be particularly complicated if either party has gone through a prior divorce or brought children into the marriage. A recent report on bankruptcy filings among seniors in Ontario underscores the importance of reaching a…

2 formulas for calculating spousal support amounts in Ontario

The federal Spousal Support Advisory Guidelines are commonly used to determine the amount and duration of spousal support to be paid. When using the guidelines’ formulas for calculating support, it is important that each party’s reported income is accurate. The guidelines are designed to generate a range of support amounts for a given situation, so really the guidelines provide a general starting point for deciding…

How does the matrimonial home factor into your divorce?

Ontario divorce law provides that divorcing spouses’ property will be divided down the middle so that each party receives an equal share of assets. The idea is simple, but the reality is that property division in Ontario is far more complex than a 50-50 split, especially with regard to the matrimonial home. Because each spouse is entitled to any increase in the value of matrimonial…

What factors do Ontario judges consider when making spousal support decisions?

When you think of marriage, you likely think of a relationship based on emotions and shared experience. But the law views marriage differently. In Canada, provincial, territorial and federal laws treat spousal relationships as financial partnerships, and the law sets out rules for the division of matrimonial property when a spousal relationship ends. Often spousal support is one of the more complex and contentious financial…

Accounting for gifts and debts in a Toronto divorce

If you are going through divorce in Toronto, then it is important to know that the division of matrimonial property involves more than totaling up your cash and other assets. To reach a fair settlement, your divorce lawyer and financial advisors should take an in-depth look at your financial portfolio to identify all divisible property, debts and any property that should be excluded from division….

Protecting your rights with a fair Ontario divorce agreement

In negotiating to settle a divorce in Ontario, the objective is to arrive at a written agreement that protects your rights now and in the future. You don’t want surprises regarding your children, finances or the matrimonial home. To eliminate uncertainties, the proper mechanisms should be built into the language of the agreement so that it will be enforceable in court and other areas of…

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